Latest news with #CindaSecurities
Business Recorder
4 days ago
- Business
- Business Recorder
China stocks at 3-1/2-year high on trade optimism
HONG KONG: China and Hong Kong stocks rose on Thursday as rare earth and tourism shares rallied, and signs of easing US-China tensions lifted investor sentiment. The Shanghai Composite index climbed up 0.7% to 3,605.73, the highest close since January 2022. It is now on track to register a fifth week of gain, which would mark its longest winning streak in nearly one and a half years. The blue-chip CSI300 index was also up 0.7%. Leading gains onshore, the rare earth sector surged 5.2% to a fresh three-year high. The tourism sector rose 3.4%, while China tourism group duty free index jumped by the 10% daily trading limit following a launch plan for the Hainan Free Trade Port. In Hong Kong, the Hang Seng Index added 0.5% to 25,667.18, the highest close since November 2021. Chinese stocks have been steadily rising in recent weeks, buoyed by Beijing's efforts to curb excessive competition and overcapacity and signs of improving US-China trade relations. The Shanghai Composite Index has surged nearly 19% from its most recent low in April, nearing the 20% gain used to define a technical bull market. 'Although there hasn't been any unexpected change in the top-down macroeconomic picture, there are still many structural opportunities within the stock market,' analysts at Cinda Securities said in an note. Fresh signs of easing US-China trade tensions also helped lift sentiment. President Donald Trump said on Wednesday that the United States was in the process of completing a trade deal with China. Around the region, MSCI's Asia ex-Japan stock index was up 0.3%, while Japan's Nikkei index gained 1.6%.
RTHK
5 days ago
- Business
- RTHK
HK stocks buoyed by signs of easing Sino-US tensions
HK stocks buoyed by signs of easing Sino-US tensions The Hang Seng Index ended the day up 129 points, or 0.51 percent, at 25,667. File photo: RTHK Mainland and Hong Kong stocks rose on Thursday as rare earth and tourism shares rallied as signs of easing China-US tensions lifted investor sentiment. In Hong Kong, the benchmark Hang Seng Index ended the day up 129 points, or 0.51 percent, at 25,667, the highest close since November 2021. Leading gains onshore, the rare earth sector surged 5.2 percent to a fresh three-year high. The tourism sector rose 3.4 percent, while China tourism group duty free index jumped by the 10 percent daily trading limit following a launch plan for the Hainan Free Trade Port. Chinese stocks have been steadily rising in recent weeks, buoyed by Beijing's efforts to curb excessive competition and overcapacity and signs of improving China-US trade relations. Up north, the benchmark Shanghai Composite Index rose 0.65 percent to 3,605 while the Shenzhen Component Index was up 1.21 percent at 11,193. The combined turnover of these two indexes stood at over 1.84 trillion yuan, down from 1.86 trillion yuan on Wednesday. Stocks related to Hainan Free Trade Port, rare-earth permanent magnet and lithium mineral led gains while stocks related to precious metal and banks suffered major losses. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 1.5 percent to close at 2,345. The Shanghai Composite Index has surged nearly 19 percent from its most recent low in April, nearing the 20 percent gain used to define a technical bull market. "Although there hasn't been any unexpected change in the top-down macroeconomic picture, there are still many structural opportunities within the stock market," analysts at Cinda Securities said in an note. Fresh signs of easing trade tensions between Beijing and Washington also helped lift sentiment. US President Donald Trump said on Wednesday that the United States was in the process of completing a trade deal with China. Around the region, MSCI's Asia ex-Japan stock index was up 0.3 percent, while Japan's Nikkei index gained 1.6 percent. (Reuters/Xinhua)
South China Morning Post
5 days ago
- Business
- South China Morning Post
China's little-known oversupply problem: insufficient waste amid glut of incinerators
While severe oversupply in Chinese industries ranging from the traditional steel sector to the hi-tech production of solar panels has made headlines recently, one lesser-known sector suffering the same fate is waste-to-energy incineration. The optimistically planned industry, giving China the world's highest processing capacity, is struggling to find enough waste to burn, with experts blaming a slowdown in the growth of supply driven by factors including an economic downturn and slowing urbanisation. Since 2019, the amount of municipal solid waste generated in China has increased by more than 10 per cent, but incineration capacity has more than doubled, resulting in 40 per cent of waste-to-energy incineration capacity sitting idle, according to government data and estimates from researchers. Last year, China collected and transported over 262 million tonnes of municipal solid waste, an increase of about 11 per cent on the 235 million tonnes in 2019, according to data released by the Ministry of Ecology and Environment. In October last year, there were 1,010 incineration enterprises nationwide with a total capacity of around 1.11 million tonnes a day, the ministry said at a news conference in December. That was more than double the 457,639 tonnes a day reported by the Ministry of Housing and Urban-Rural Development in 2019. In a note issued earlier this month, analysts from Cinda Securities said China's waste incineration plants are seriously underutilised and estimated to be running at an average capacity of 60 per cent.
Business Recorder
5 days ago
- Business
- Business Recorder
China stocks rise on tourism surge, trade optimism
Hong Kong: China and Hong Kong stocks rose on Thursday as tourism shares rallied and signs of easing U.S.-China tensions lifted investor sentiment. At the midday break, the Shanghai Composite index was up 0.5% at 3,599.44 points, on track to register a sixth straight session of gains. China's blue-chip CSI300 index was up 0.45%. Leading gains onshore, China's CSI Tourism Index rose more than 3%, while China Tourism Group Duty Free jumped by the 10% daily trading limit following a launch plan for the Hainan Free Trade Port. In Hong Kong, the Hang Seng Index was up 0.6% at 25,688.87, the highest level since November 2021. Chinese stocks have been steadily rising in recent weeks, buoyed by Beijing's efforts to curb excessive competition and overcapacity and signs of improving U.S.-China trade relations. The Shanghai Composite index is now on track to register a fifth week of gain, which would mark its longest winning streak since February 2024. 'Although there hasn't been any unexpected change in the top-down macroeconomic picture, there are still many structural opportunities within the stock market,' analysts at Cinda Securities said in an note. Fresh signs of easing U.S.-China trade tensions also helped lifted sentiment. President Donald Trump said on Wednesday that the United States was in the process of completing a trade deal with China and would be setting straight tariffs for most countries.
