China belt and road stocks fall on Mideast war
© Reuters. FILE PHOTO: FILE PHOTO: An electronic board shows stock indexes at the Lujiazui financial district in Shanghai, China, March 21, 2023. REUTERS/Aly Song/File Photo/File PhotoSHANGHAI/SINGAPORE - Conflict in the Middle East has cast a fresh cloud over China's battered stock market, driving down exposed stocks - especially those linked with infrastructure projects in the region - as investors peppered companies with queries on the fallout.
Infrastructure giants suffered the heaviest losses on worries that prolonged fighting would inflame regional tensions and put the brakes on projects planned as part of China's decade-old belt and road initiative , though some aerospace and defence stocks rose. "The silence is kind of negative to the market," said a mainland China-based strategist who declined to be identified due to the sensitivity of the topic.Chinese investors have flooded listed companies ranging from fertilizer producers and oil companies to drone makers with questions related to the war on Shanghai and Shenzhen stock exchanges' investor relations platforms.
Most other companies didn't respond to investors' queries on the platforms or said there was no impact.
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