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Business Recorder
15-05-2025
- Business
- Business Recorder
China stocks snap three-day winning streak
SHANGHAI: China stocks ended lower on Thursday, snapping three days of gains, as investors digested the local lending data and sought direction amid easing US-China trade tensions. Hong Kong shares also fell. China's blue-chip CSI300 Index closed 0.9% lower, while the Shanghai Composite Index lost 0.7%. Hong Kong's benchmark Hang Seng shed 0.8%. China's new bank loans tumbled more than expected in April, as a protracted trade war with the United States further eroded the market's appetite during a period that's typically slow for loan demand. Meanwhile, the country paused some non-tariff measures taken in April against US entities - 17 on its unreliable entity list and 28 on its export control list, the commerce ministry said. Chinese stocks have fully recovered losses incurred since US President Donald Trump imposed on April 2, driven by the trade truce with the US Artificial intelligence and defence shares traded onshore fell 2.4% and 1.8%, respectively. Maritime shipping and ports stocks jumped on a temporary trade truce between the world's two largest economies, with Nanjing Port and Lianyungang Port rising to an exchange-allowed daily maximum of 10%. Tencent lost 0.2% despite its first-quarter revenue beating expectations. Investors were awaiting Alibaba's earnings reports, due later in the day. Major drug developer Jiangsu Hengrui Pharmaceuticals rose 1.5%, after a regulatory filing showed it wants to raise up to HK$9.89 billion ($1.27 billion) in a Hong Kong
Business Recorder
15-05-2025
- Business
- Business Recorder
China stocks snap three-day winning streak on weak lending data
SHANGHAI: China stocks ended lower on Thursday, snapping three days of gains, as investors digested the local lending data and sought direction amid easing U.S.-China trade tensions. Hong Kong shares also fell. China's blue-chip CSI300 Index closed 0.9% lower, while the Shanghai Composite Index lost 0.7%. Hong Kong's benchmark Hang Seng shed 0.8%. China's new bank loans tumbled more than expected in April, as a protracted trade war with the United States further eroded the market's appetite during a period that's typically slow for loan demand. Meanwhile, the country paused some non-tariff measures taken in April against U.S. entities - 17 on its unreliable entity list and 28 on its export control list, the commerce ministry said. Chinese stocks have fully recovered losses incurred since U.S. President Donald Trump imposed on April 2, driven by the trade truce with the U.S. Artificial intelligence and defence shares traded onshore fell 2.4% and 1.8%, respectively. Financial shares lift China and HK shares Maritime shipping and ports stocks jumped on a temporary trade truce between the world's two largest economies, with Nanjing Port and Lianyungang Port rising to an exchange-allowed daily maximum of 10%. Tencent lost 0.2% despite its first-quarter revenue beating expectations. Investors were awaiting Alibaba's earnings reports, due later in the day. Major drug developer Jiangsu Hengrui Pharmaceuticals rose 1.5%, after a regulatory filing showed it wants to raise up to HK$9.89 billion ($1.27 billion) in a Hong Kong listing. China cut the amount of cash banks must hold as reserves, known as the reserve requirement ratio, by 50 basis points on Thursday. State media Securities Daily said there is more room for such cuts in the rest of the year, citing economists.
Business Recorder
15-05-2025
- Business
- Business Recorder
China stocks dip after three-day winning streak
SHANGHAI: China stocks fell after three days of gains, as investors digested economic data and sought direction amid easing U.S.-China trade tensions. Hong Kong shares also edged down. China's blue-chip CSI300 Index dropped 0.6% by the lunch break, while the Shanghai Composite Index lost 0.4%. Hong Kong's benchmark Hang Seng was down 0.3%. China's new bank loans tumbled more than expected in April as a protracted trade war with the United States further eroded the market's appetite during a typically slow month for loan demand. Meanwhile, China paused some non-tariff measures taken against 17 U.S. entities put on its unreliable entity list in April and 28 U.S. entities on its export control list, the commerce ministry said. Chinese stocks have recovered all their losses, triggered by U.S. President Donald Trump's punitive tariff measures imposed on April 2. Artificial intelligence and defence shares traded onshore fell 1.9% and 1.5%, respectively. Financial shares lift China and HK shares Maritime shipping and ports stocks jumped as trade tensions between the world's two largest economies de-escalated, with shares of Nanjing Port and Lianyungang Port up to a daily maximum of 10%. Tencent shares edged down 0.5% despite its first-quarter revenue beating expectations. Investors were awaiting Alibaba's earnings reports, which will be released later in the day. China cut the amount of cash that banks must hold as reserves, known as the reserve requirement ratio, by 50 basis points on Thursday. State media Securities Daily said there is more room for such cuts in the rest of the year, citing economists.
