Latest news with #CSIDefenceIndex
Business Recorder
8 hours ago
- Business
- Business Recorder
China stocks retreat 7-month high following Mideast calm
HONG KONG: China and Hong Kong shares weakened on Thursday after hitting multi-month peaks, as a relief rally over the ceasefire in the Middle East took a breather. At market close, the Shanghai Composite index declined 0.2% after briefly touching the highest level since December during earlier trades. China's blue-chip CSI300 index lost 0.4%. The brokers sector lost 1.7% to give up some of the gains seen on Wednesday and the rare earth sector declined 1.2%. Offsetting the onshore losses, the CSI Defence Index gained 0.4% while banking shares advanced 1%. In Hong Kong, the benchmark Hang Seng Index snapped a four-day winning streak and weakened 0.6%, pulling back from a three-month high hit at the previous close. While markets have been soothed by a ceasefire between Israel and Iran, traders were on edge about Trump's July 9 deadline on imposing tariffs on trading partners and his pressure on the Fed. China stocks closes at six-month high as ME truce lifts sentiment China markets are expected to face some volatility pressure between July and August following the recent gains, and investors are advised to remain cautious in the short term, analysts at Morgan Stanley said in a note. Analysts at Goldman Sachs said in a note on Thursday that they have observed strength across China assets from the trading desks with long-only funds and hedge funds both getting more active. Clients' feedback now expect more retail participation following the recent rally. Still, the upcoming earnings season and corporate guidance for the second half will be the key focus as there's limited visibility on macro support, they added.
New Straits Times
10 hours ago
- Business
- New Straits Times
China stocks retreat 7-month high following Mideast calm
HONG KONG: China and Hong Kong shares weakened on Thursday after hitting multi-month peaks, as a relief rally over the ceasefire in the Middle East took a breather. At market close, the Shanghai Composite index declined 0.2 per cent after briefly touching the highest level since December during earlier trades. China's blue-chip CSI300 index lost 0.4 per cent. The brokers sector lost 1.7 per cent to give up some of the gains seen on Wednesday and the rare earth sector declined 1.2 per cent. Offsetting the onshore losses, the CSI Defence Index gained 0.4 per cent while banking shares advanced 1 per cent. In Hong Kong, the benchmark Hang Seng Index snapped a four-day winning streak and weakened 0.6 per cent, pulling back from a three-month high hit at the previous close. While markets have been soothed by a ceasefire between Israel and Iran, traders were on edge about Trump's July 9 deadline on imposing tariffs on trading partners and his pressure on the Fed. China markets are expected to face some volatility pressure between July and August following the recent gains, and investors are advised to remain cautious in the short term, analysts at Morgan Stanley said in a note. Analysts at Goldman Sachs said in a note on Thursday that they have observed strength across China assets from the trading desks with long-only funds and hedge funds both getting more active. Clients' feedback now expect more retail participation following the recent rally. Still, the upcoming earnings season and corporate guidance for the second half will be the key focus as there's limited visibility on macro support, they added.
Mint
12 hours ago
- Business
- Mint
Israel-Iran ceasefire: AVIC Chengdu share price rises for second straight session. More steam ahead?
AVIC Chengdu share price: Amid the Israel-Iran ceasefire and overall positive sentiments in the Chinese equity markets, shares of AVIC Chengdu Aircraft, the maker of the J-10 fighter jets, rose for the second straight session on Thursday, June 26. Defence and tech sectors led gains for China stocks, which were up for the fourth straight session, as per a Reuters report. Meanwhile, the CSI Defence Index rallied 1.9%, with AVIC Chengdu Aircraft share price gaining over 3% in intraday deals today. Analysts said markets have been soothed by a ceasefire between Israel and Iran that appeared to be holding, reducing the risks of disruptions to the global oil trade.
Business Recorder
13 hours ago
- Business
- Business Recorder
China stocks extend rally to 7-month high following Mideast calm
HONG KONG: China stocks rose for the fourth day on Thursday, led by gains in defence and tech sectors, while Hong Kong's shares weakened after hitting a three-month peak. At the midday break, the Shanghai Composite index was up 0.1% at 3,459.66 points, the highest level since December. China's blue-chip CSI300 index was little changed. In Hong Kong, the benchmark Hang Seng Index weakened 0.5% after closing at the highest level since March on Wednesday. Lifting onshore markets higher, the CSI Defence Index rallied 1.9%, while the AI subsector index climbed 1.3% and the info tech sector added 0.6%. Financial sector sub-index weakened 0.2% and the brokers sector lost 0.6% to give up some of the gains seen on Wednesday. China stocks closes at six-month high as ME truce lifts sentiment Markets have been soothed by a ceasefire between Israel and Iran that appeared to be holding, reducing the risks of disruptions to the global oil trade and underpinning sentiment. Analysts at Goldman Sachs said in a note on Thursday that they have observed strength across China assets from the trading desks with long-only funds and hedge funds both getting more active. Clients' feedback now expect more retail participation following the recent rally. Still, the upcoming earnings season and the outlook for the second half will be the key focus as there's limited visibility on macro support, they added. Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.1%, while Japan's Nikkei index was up 1.3%.
