Latest news with #GuoshengSecurities
Business Recorder
20-05-2025
- Business
- Business Recorder
China, HK stocks flat as soft data offsets tariff truce lift
SHANGHAI: China and Hong Kong stocks ended roughly flat on Monday as weak data on China industrial and retail sales highlighted ongoing economic challenges, although the Sino-US tariff reprieve continued to lift shares of port operators. China's blue-chip CSI300 Index dipped 0.3%, while the Shanghai Composite Index was barely changed. Hong Kong's benchmark Hang Seng was little moved. China and Hong Kong markets have recovered ground lost since Donald Trump's tariff announcement in early April, after Beijing and Washington later agreed a 90-day tariff pause last week. But the rally appears to be losing steam. Official data showed on Monday that growth in China's industrial output and retail sales slowed in April, curbing risk appetite. Guosheng Securities cautioned investors against chasing stocks 'before concrete evidence points to a better-than-expected economy.' 'Fluctuation within a wide range remains our base case scenario,' the brokerage wrote. But shares of Chinese port operators continued to surge, as investors doubled down on bets that the 90-day tariff pause will spur a rush in shipments. Lianyungang Port, Ningbo Port and Zhuhai Port all hit their daily upward limit of 10%. Shares of other major port operators such as China Merchants Port Group and Shanghai International Port also rose sharply. 'Exporters may continue to boost production and delivery in the next few months in case tariffs are hiked again down the road,' said Zhiwei Zhang, president at Pinpoint Asset Management.
Business Recorder
19-05-2025
- Business
- Business Recorder
China, Hong Kong stocks sag on soft data despite tariff truce lift
SHANGHAI: China and Hong Kong stocks sagged on Monday, as weak local data on industrial and retail sales highlighted ongoing economic challenges, although the Sino-US tariff reprieve continued to lift shares of port operators. China, HK stocks dip with earnings China's blue-chip CSI300 Index dropped 0.4% by the lunch break, while the Shanghai Composite Index lost 0.1%. Hong Kong benchmark Hang Seng traded 0.5% lower. China and Hong Kong markets have recovered ground lost since Donald Trump's 'Liberation Day' tariffs in early April, as Beijing and Washington announced a 90-day tariff pause last week. But the rally appears to be losing steam. Official data showed on Monday that growth in China's industrial output and retail sales slowed in April, curbing risk appetite. Guosheng Securities cautioned investors against chasing stocks 'before concrete evidence points to a better-than-expected economy.' 'Fluctuation within a wide range remains our base case scenario,' the brokerage wrote. ** But shares of Chinese port operators continued to surge, as investors doubled down on bets that the 90-day tariff pause will spur a rush in shipment. Lianyungang Port, Ningbo Port and Zhuhai Port all hit their daily upward limit of 10%. Shares of other major port operators such as China Merchants Port Group and Shanghai International Port also rose sharply. 'Exporters may continue to boost production and delivery in the next few months in case tariffs are hiked again down the road,' said Zhiwei Zhang, president, Pinpoint Asset Management. China Securities Co analysts said the tariff reprieve may 'spur a shipment rush that leads to a burst of businesses' for port operators. Hong Kong-listed shares of Midea Group and ZTO Express jumped after the Hang Seng Indexes Co said they would be added to the Hang Seng Index early next month.
Reuters
20-03-2025
- Business
- Reuters
China's coal imports from Russia rise 10% in Jan-Feb
BEIJING, March 20 (Reuters) - China's imports from Russia rose 10% on the year in January-February to 12.65 million metric tons, data from the General Administration of Customs showed on Thursday, despite persistent rail bottlenecks and Western sanctions. Sanctions are pushing up the costs of mining in Russia by reducing investment and equipment upgrades and increasing personnel costs, analysts at Guosheng Securities said in a note. Coal imports from China's largest supplier Indonesia increased 7% year-on-year to 34.63 million tons during the two months but could fall back in the coming months, after Indonesia started using its government-set benchmark coal price as the floor price for transactions as of March 1. Traders have criticised the new policy, saying they would prefer to continue using the prevailing ICI index because of lags in the government index, and that buyers have been holding off on signing new deals. Last year, China's imports of Russian coal slipped 7%, while purchases from all other key suppliers rose, pushing total imports to an all-time high of 547.2 million tons in 2024. Below are the details of imports from key suppliers with volume in metric tons:
Reuters
07-03-2025
- Business
- Reuters
China's coal imports tick up in January-February despite risks to outlook
BEIJING, March 7 (Reuters) - China's coal imports rose 2.1% year-on-year, official data showed on Friday, as the import arbitrage remained open despite a number of risks to the outlook for imports. China publishes data for the two months in a combined release to smooth out the impact of the Lunar New Year, which falls in either of the two months. January-February imports were at 76.12 million metric tons, data from the General Administration of Customs showed, up from 74.52 million tons in the year-earlier period. China's coal imports increasingly appear to be under pressure, with two major industry bodies last week calling for limits on imports, particularly of low-quality coal, because of an oversupplied market. An unseasonably warm winter has weighed on demand for coal and also domestic prices. Major coal miner Shenhua also suspended spot imports to protect its domestic market sales in the face of mounting port inventories. A plan by major supplier Indonesia to use its own government-set benchmark price for international transactions beginning from March 1 could further weigh on imports from this month as it creates uncertainty for buyers. Analysts at Guosheng Securities said in a note the requirement to use the government index - which currently ranges from $1.5 to $14 higher than the prevailing ICI index depending on the grade of coal - is expected to increase the cost of China's coal imports. That will reduce China's demand for Indonesian coal and likely lead buyers to substitute with domestic coal instead, LSEG analysts said in a note. Analysts from industry body the China Coal Transportation and Distribution Association have forecast imports will fall 1.9% to 525 million tons of coal this year, down from 2024's record high. Guosheng Securities saw thermal coal imports falling even more sharply, declining 4.9% to 385 million tons on the back of a weakening yuan and narrowing import arbitrage. China has also placed 15% tariffs on U.S. coal imports as the trade tensions between the two major economies heat up. Shipments from the U.S. however make up a small portion of imports and may be replaced with other suppliers from abroad, analysts say. China's domestic coal consumption rose 1.7% year-on-year in 2024, according to the statistics bureau.
