News

Shanghai Composite Hits 15-month High
The Shanghai Composite added 62.24 points or 2.01% to 3152.81 on Friday, gaining for the fourth consecutive session, posting a weekly gain of 5.43% and trading at levels not seen since April 2019. Also, the CSI 300 index of China's top companies jumped 2% to close at 4,419, its highest closing level since June 2015 as investors were optimistic after the Caixin China General Services PMI posted the strongest growth since April 2010. Sentiment was also boosted as United States nonfarm payrolls jumped by a record 4.8 million in June. Finally, the US Agriculture Department's announced that China had booked deals to buy US corn and soybeans, the first sales of US supplies since Beijing asked suppliers to guarantee their cargoes are not contaminated with the COVID-19.
Published on 2020-07-03

China Shares Jump in Afternoon Trade
The Shanghai Composite index surged 34 points or 1.1% to 3,125 on Friday around 01:00 PM Shanghai time, after data showed China's services sector expanded at the fastest pace in over a decade in June, amid easing of coronavirus-related lockdown. Market participants were also encouraged by the US Agriculture Department's statement Thursday saying that China had booked deals to buy US corn and soybeans, the first sales of US supplies since Beijing asked suppliers to guarantee their cargoes are not contaminated with the COVID-19. Meanwhile, US exporters reportedly has shipped over 21 thousand tonnes of pork to China in the week ended June 25th, the biggest weekly total since late April. Gains in the index were almost broad-based, led by the energy sector, financials, industrials, and consumer discretionary.
Published on 2020-07-03

China Shanghai Composite Opens in the Green
The Shanghai Composite index rose 13 points or 0.4% to open at 3,104 on Friday after data showed China's services sector expanded at the fastest pace in over a decade in June, amid easing of coronavirus-related lockdown. The rise in the index came after Wall Street finished in the green overnight following upbeat US employment numbers and despite a surge in coronavirus cases in several states and growing Sino-US tensions. In early trading, financial stocks, basic materials, industrials, and consumer discretionary led the gains. Healthcare shares were lower, amid concerns over global virus cases that surpassed 10.7 million so far, while there are five new virus cases in mainland China as of Thursday, compared to three a day earlier.
Published on 2020-07-03

Chinese Shares Extend Gains to 6-month highs
The Shanghai Composite gained 64.59 points or 2.13% to 3090.57 on Thursday after surging 1.38% in the previous session, trading at levels not seen since January. Investors cheered as China’s finance ministry said it is planning to sell more special treasury bonds to fund public health-related infrastructure facilities and aid its virus-hit economy, part of a proposal to issue 1 trillion yuan in such bonds throughout the year. Meantime, Hong Kong shares gained 599.29 points or 2.45% to trade around 4-month highs of 25026.48 as optimistic investors see Beijing’s new security law leading to more listings by Chinese companies, more mainland money, and more financial links with the world’s second-biggest economy.
Published on 2020-07-02

The SHANGHAI Index rose 2.11%
China Stock Market rose 64 points. Leading the gains are Jinfeng Investment (10.00%), China Life Insurance (6.79%) and CITIC Securities (5.42%).
Published on 2020-07-02

China Shanghai Composite Soars At Midday
The Shanghai Composite Index jumped 35 points or 1.2% to 3,061 on Thursday at around 00:30 PM Shanghai time, compared to a slight fall at open, amid optimism about rapid global economic recovery following a rebound in Chinese manufacturing activity and despite a recent spike in virus infections in some parts of the world. In addition, investors cheered news regarding positive results of the COVID-19 vaccine being developed by Pfizer and BioNTech that showed it could neutralize antibodies. At the same time, they await US nonfarm payroll data later in the day, that expected to rise by 3 million jobs in June, the most since the government started keeping records in 1939. Market participants gave little to no attention to reports that US House has passed a bill Wednesday to sanction Chinese banks over a strict new security law in Hong Kong. Most major sectors were in the green, led by financials, consumer non-cyclicals, industrials, basic materials, and energy.
Published on 2020-07-02

China Shanghai Composite Opens in the Red
The Shanghai Composite Index opened slightly lower on Thursday but strengthened markedly as the session went on. Investors turned their focus into positive results of the COVID-19 vaccine being developed by Pfizer and BioNTech that showed it could neutralize antibodies. Market participants also became confident about rapid global economic recovery following a rebound in Chinese manufacturing activity and softening falls in European factory activity and despite a recent spike in virus infections in some parts of the world. Reuters reported that the US policymakers generally indicated support for keeping interest rates low until certain conditions are met. Minutes from the US central bank's June 9-10 policy meeting showed that the policymakers generally indicated support for tying rate-setting policy to specific economic outcomes. In early trading, all major sectors moved higher, with gains ranging from 0.3% for the healthcare sector to 1.2% to consumer non-cyclicals.
Published on 2020-07-02

Shanghai Composite Rises for 5th Day
The Shanghai Composite added 41.31 points or 1.38% to 5-month highs of 3025.98 on Wednesday. Investor sentiment proved optimistic throughout Asian trade after the Caixin China General Manufacturing PMI unexpectedly rose to 51.2 in June 2020, soundly beating market consensus of 50.5 and posting the highest reading since December last year. In addition, the People Bank of China noted in its latest publication that “China's overall demand is recovering fast from a low level.” The news comes after the central bank said it would cut the re-discount and re-lending rates by 25 basis points as of July 1st in a move to reduce funding costs for smaller firms and rural sectors. Meantime, the Hang Seng Index remained closed for a public holiday.
Published on 2020-07-01

China Shares Up More than 1% in Afternoon Trade
The Shanghai Composite Index jumped 32 points or 1.1% to 3,017 on Wednesday at 01:00 PM Shanghai time, after the People's Bank of China said in a publication today that the world's second-largest economy will not experience high inflation or deflation as its economy is gradually recovering. China's consumer inflation is expected to ease on a quarterly basis this year, and chances of a rebound are not high, it added. Year-on-year falls in producer prices are also expected to narrow as investment and consumption recovers in the second half of this year. OIn the data front, China's manufacturing sector rose more than estimated, with the Caixin Manufacturing PMI hit a six-month high. Most major sectors in the index rose: consumer non-cyclicals, financials, basic materials, industrials, and utilities.
Published on 2020-07-01

China Shanghai Composite Advances at Open
The Shanghai Composite Index rose 6 points or 0.2% to open at 2,991 on Wednesday after US equities booked its best quarter since 1998 Tuesday with more gains, as optimism regarding the reopening of global economy outweigh fears over a fresh wave of coronavirus infections. Market participants were encouraged by news that the manufacturing sector in China rose the most since December last year due to the recent easing of virus measures. In early trading, consumer non-cyclical stocks, technology, basic materials, and industrials led the gains. A surge in WTI crude in Asia also helped the energy sector mover higher. Meantime, the healthcare stocks fell after authorities in Beijing reported three new locally transmitted virus cases Tuesday, raising total infections in the city to 328 since June 11th.
Published on 2020-07-01

Shanghai Composite Closes at 15-Week High
The Shanghai Composite added 23.16 points or 0.78% to near 15-week highs of 2984.67 on Tuesday as both Manufacturing and Non-Manufacturing PMI's reported by NBS unexpectedly rose more than expected, recovering for the fourth consecutive month. In other news, China's parliament passed the controversial national security legislation for Hong Kong that Beijing says is necessary to deal with issues of terrorism, subversion and foreign interference. Meantime, the Hang Seng Index added 80.62 points or 0.33% to 24381.9.
Published on 2020-06-30

Stocks in China Hit 15-week High
SHANGHAI increased to a 15-week high of 2986
Published on 2020-06-30

China Shares Gain After Official PMI Beats
The Shanghai Composite Index added 17 points or 0.6% higher to 2,979 on Tuesday at around 01:00 PM Shanghai time following a sharp rebound in Wall Street overnight, amid upbeat US housing data that outweighed the threat of rising COVID-19 infections. Sentiment was also boosted by data showing China's manufacturing sector grew more than expected in June. The official manufacturing PMI came in at 50.9 in June, compared with May's 50.6. Market participants also cheered reports saying China announced a cross-border wealth management scheme with Hong Kong and Macau, allowing residents of the two offshore centers and those in nine cities on the mainland to buy financial products in each other's markets.. Gains in the index were broad-based, led by technology stocks, healthcare, industrials, consumer discretionary, basic materials, and financials.
Published on 2020-06-30

China Shanghai Composite Opens in the Green
The Shanghai Composite Index rose 3.5 points or 0.1% to open at 2,965 on Tuesday following a sharp rebound in Wall Street overnight, amid upbeat US housing data that outweighed the threat of rising COVID-19 infections. Investors welcomed news that factory activity in China for June grew more than estimated. China’s official manufacturing PMI unexpectedly rose to 50.9 in June from 50.6 in May. Meantime, the Official Non-Manufacturing PMI increased to 54.4 in June from May's 53.6, marking the fourth straight month of growth and the strongest since January. In early trading, all major sectors were higher, with technology, industrials, consumer discretionary, and healthcare being top performers.
Published on 2020-06-30

Chinese Shares Fall on COVID-19 Fears
The Shanghai Composite moved 18.03 points or 0.61% lower to 2961.52 on Monday. Investors remained cautious throughout Asian trade following near record number of coronavirus infections reported over the weekend. Globally, 163172 new cases were reported on Sunday, with China adding 17 cases, while the United States added a near record 40540. However, downside was limited after an institute of biological products in Beijing announced that it had achieved positive results for a COVID-19 vaccine candidate. On the data front, profits earned by China's industrial firms declined by 19.3% yoy to CNY 1.84 trillion in January-May 2020, compared to a 27.4% slump in January-April period, indicating a gradual recovery from the coronavirus pandemic. Meantime, the Hang Seng Index moved 236.19 points or 0.96% lower to 24313.8.
Published on 2020-06-29

The SHANGHAI Index dropped 0.59%
China Stock Market fell 18 points. Leading the losses are Haitong Secur (-4.43%), Huatai Securities (-4.37%) and China Life Insurance (-3.65%). Top gainers were Xian Longi (6.24%), China Merchants Securities (3.52%) and China CITIC Bank (3.35%).
Published on 2020-06-29

China Shanghai Composite Drops 0.7% at Midday
The Shanghai Composite Index was down 21 points or 0.7% to 2,958 on Monday around midday, amid growing fears that a further rise in coronavirus infections globally could impact the reopening of economies. Reuters reported that the death toll from the illness reached half a million people Sunday, with total infections surpassing 10 million. Investors also nervous after China's central bank said over the weekend that the country's economy was facing challenges from the pandemic, despite signs of improvement amid business re-openings. Energy stocks were among top losers, falling nearly 0.9%, following a plunge in oil prices in Asia. Declines were also seen for the technology sector, consumer discretionary, financials, basic materials, and industrials. Meanwhile, healthcare stocks rose after news that there were 12 new confirmed virus cases in China Sunday, down from 17 a day earlier.
Published on 2020-06-29

China Shanghai Composite Falls at Open
The Shanghai Composite Index fell 7 points or 0.2% to open at 2,973 on Monday as investors returned from holidays, amid fears that a further rise in the number of coronavirus infections globally could impact the reopening of economies. Reuters reported that the death toll from the illness reached half a million people Sunday, with total infections surpassing 10 million so far. Health experts have expressed concerns about record numbers of new cases in the US, India, and Brazil, as well as new outbreaks in parts of Asia. In early trade, all major sectors were in the red, led by the technology stocks, telecommunications, consumer discretionary, and industrials. A drop in oil prices in Asia also dragged down energy shares.
Published on 2020-06-29

Chinese Shares Trade Near 4-month Highs
The Shanghai Composite added 8.39 points or 0.3% to close the 3-session week around 4-month highs of 2979.55 on Wednesday. Investors cheered improving data from key economies and Beijing’s latest reforms in its capital markets. However, upside remained limited following a near record of daily coronavirus infections on Tuesday. Globally, 162994 cases were added with China contributing 22 new cases, while the United States tallied a near record 36015. Meantime, the Hang Seng Index lost 49.83 points or 0.2% to 24857.51. Markets in China will be closed on June 25th and 26th for the Dragon Boat Festival holidays. Markets in Hong Kong will be closed on the 25th.
Published on 2020-06-24

China Shanghai Composite Inches Higher at Open
The Shanghai Composite index edged up 2 points to open at 2,973 on Wednesday after the US stocks ended higher overnight after President Donald Trump assured that trade deal between Washington and Beijing was intact and as upbeat economic data offered some reasons for optimism. In addition, White House health advisor Anthony Fauci said that states with a growing COVID-19 outbreak in the US may not need to apply an absolute shutdown. Meantime, Chinese authorities reported there were 12 new virus cases on the mainland as of Tuesday, compared with 22 the previous day. In early trading, gains were seen for utility stocks, consumer non-cyclicals, financials, and industrials. Meanwhile, the telecommunication sector and healthcare were lower.
Published on 2020-06-24