Chinese markets' cold start to 2025 turns up heat on authorities

Central bank freezes treasury bond buying as yields sink, investors brace for Trump

250110 China market

The central bank said on Friday that it suspended open market treasury bond buying operations in a bid to tighten grip on the bond market. © Reuters

ECHO WONG and WATARU SUZUKI, Nikkei staff writers

HONG KONG/SHANGHAI -- China and Hong Kong stocks have fallen behind regional peers in the first two trading weeks of 2025 as investors take profits and shift to government bonds, putting pressure on Chinese regulators to support yields and the yuan.

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