[ad_1]
Investor mood was also hit by new official data from China that showed factory activity continued to contract in the world’s second largest economy following strict Covid lockdowns and a record heat wave.
Mainland China’s benchmark Shanghai Composite Index (SHCOMP) dropped 0.8% to close at its lowest level in four weeks. So far this year, the index has tumbled nearly 12%.
The tech-heavy Shenzhen Component Index also fell 1.3% to its worst level in more than two months.
Japan’s Nikkei 225 (N225) lost 0.4%. Hong Kong’s benchmark Hang Seng Index (HSI) was flat. But Korea’s Kospi (KOSPI) reversed earlier losses and closed up 0.9%.
Chinese electric car and battery maker BYD (BYDDF) plunged 8% in Hong Kong, after Warren Buffett’s Berkshire Hathaway (BRKA) said in a filing that it had sold around 1.33 million Hong Kong-listed shares of BYD for 370 million Hong Kong dollars ($47 million).
After the sale, Berkshire’s stake in BYD has dropped to 19.92% from 20.04%. The news followed weeks of…
[ad_2]
