Latest news with #NingboPort
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.
