Latest news with #STAR50
Business Recorder
2 days ago
- Business
- Business Recorder
Shanghai Composite retreats after touching 3,700 level
HONG KONG: China stocks closed lower on Thursday after touching a 3-1/2-year gh as investors locked in gains following the recent bull run. At market close, the Shanghai Composite Index was down 0.5% at 3,666.44, after briefly topping the 3,700 level for the first time since December 2021. The decline also snapped a three-day winning streak and marked the biggest pullback in two weeks. The blue-chip CSI300 Index also gave up gains to close largely flat. 'I think the overall market is still trending upward, though there might be a bit of a correction, which actually is a good thing because it makes the movement healthier,' said Kevin You, deputy portfolio manager of Allianz China A-Shares Equity Fund. The steel sector dropped 2.1% and communications sector lost 2.2% to weigh on markets. Offsetting the losses, the tech-focused STAR50 index was up 0.8%?, the semiconductor index jumped 1.5% and the insurance sector jumped 2.3%. Citi analysts said Beijing's incremental demand-side stimulus has been well on track following the Politburo meeting in July, as measures such as interest subsidy for consumption loans, mega dam project in Tibet and an 'anti-involution' campaign have all helped sentiment. 'Risk appetite seems to be returning' with margin buying surpassing 2 trillion yuan last seen in the 2015 bull market, and external risks could be largely defused for now with the US-China tariff truce officially extended to mid-November, they said. In Hong Kong, the benchmark Hang Seng Index weakened 0.4% to 25,519.32. The tech index lost 1%. Market heavyweight Tencent briefly touched HK$600 per share for the first time since 2021, after it reported a 15% revenue rise in the last quarter on strong gaming performance.
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
Shanghai Composite index flirts with 3,700 level as bullish mood persists
The Shanghai Composite Index was up 0.2% at 3,690.88. (EPA Images pic) HONG KONG : China stocks edged up today to a fresh 3-1/2-year high as bullish sentiment continued to build on strong technology gains and renewed investor appetite. At the midday break, the Shanghai Composite Index was up 0.2% at 3,690.88 after briefly topping the 3,700 level for the first time since December 2021. The blue-chip CSI300 index was up 0.5%. Leading gains, Shanghai's tech-focused STAR50 index was up 1.8%, the semiconductor index jumped 2.5% and the insurance sector jumped 2.6%. 'Risk appetite seems to be returning' with margin buying surpassing ¥2 trillion, last seen in the 2015 bull market,' Citi analysts said. 'Delivery of incremental demands-side stimulus is well on track following the Politburo meeting in July,' the bank said, as measures such as interest subsidy for consumption loans, mega dam project in Tibet and 'anti-involution' campaign have all helped sentiment. External risks could be largely defused for now with the US-China tariff truce officially extended to mid-November. In Hong Kong, the benchmark Hang Seng Index weakened 0.1% to 25,597.85. The tech index lost 0.5%. Market heavyweight Tencent briefly touched HK$600 per share for the first time since 2021, after it reports a 15% revenue growth in last quarter on strong gaming performance. 'Asian fund managers' tone on China has turned more enthusiastic, with the growth outlook at a five-month high and households gradually increasing allocations to spending and investment,' Bank of America said in a latest survey. 'China has recently climbed to the second spot in Asian among fund managers behind Japan,' the bank said.
Business Recorder
3 days ago
- Business
- Business Recorder
Shanghai Composite index flirts with 3,700 level as bullish mood persists
HONG KONG: China stocks edged up on Thursday to a fresh 3-1/2-year high as bullish sentiment continued to build on strong technology gains and renewed investor appetite. At the midday break, the Shanghai Composite index was up 0.2% at 3,690.88 after briefing topping the 3,700 level for the first time since December 2021. The blue-chip CSI300 index was up 0.5%. Leading gains, Shanghai's tech-focused STAR50 index was up 1.8%?, the semiconductor index jumped 2.5% and the insurance sector jumped 2.6%. 'Risk appetite seems to be returning' with margin buying surpassing 2 trillion yuan last seen in the 2015 bull market, Citi analysts said. Delivery of incremental demands-side stimulus is well on track following the Politburo meeting in July, the bank said, as measures such as interest subsidy for consumption loans, mega dam project in Tibet and 'anti-involution' campaign have all helped sentiment. External risks could be largely defused for now' with the U.S.-China tariff truce officially extended to mid-November. In Hong Kong, the benchmark Hang Seng Index weakened 0.1% to 25,597.85. The tech index lost 0.5%. Market heavyweight Tencent briefly touched HK$600 per share for the first time since 2021, after it reports a 15% revenue growth in last quarter on strong gaming performance. Asian fund managers' tone on China has turned more enthusiastic, with the growth outlook at a five-month high and households gradually increasing allocations to spending and investment, Bank of America said in a latest survey. China has recently climbed to the second spot in Asian among fund managers behind Japan, the bank said.
Business Recorder
09-07-2025
- Business
- Business Recorder
China stocks edge higher even as factory deflation deepens
SHANGHAI: Mainland China stocks edged up on Wednesday after US President Donald Trump said trade talks with Beijing were progressing well, but gains were limited by factory deflation as firms cut prices amid weak demand. Hong Kong shares inched lower. At the midday break, the Shanghai Composite index was up 0.3% at 3,507.69 points, while the blue-chip CSI300 index edged 0.32% higher. The smaller Shenzhen index was up 0.29%, the start-up board ChiNext Composite index traded 0.8% higher and Shanghai's tech-focused STAR50 index dipped 0.35%?. Trump on Tuesday said he would impose a 50% tariff on imported copper and soon introduce long-threatened levies on semiconductors and pharmaceuticals, broadening his trade war that has rattled markets worldwide. Trump also said trade talks have been going well with the European Union and China, though he added he is only days away from sending a tariff letter to the EU. 'We have had a really good relationship with China lately, and we're getting along with them very well. They've been very fair on our trade deal, honestly,' Trump said, adding that he has been speaking regularly with Chinese President Xi Jinping. 'It may boost market sentiment in the short term,' said Deng Lijun, analyst, Huajin Securities. 'The new wave of tariff increases did not involve China, and the United States had lifted export restrictions to China for chip design software developers and ethane, and Sino-US trade tensions have eased in the short term,' Deng said, adding that risk appetite for A-shares may rebound once Beijing and Washington reach a tariff deal. Meanwhile, China's producer deflation deepened to its worst level in almost two years in June as the economy grapples with uncertainty over a global trade war and subdued demand at home, piling pressure on policymakers to roll out more support measures. 'Combined with the persistently negative GDP deflator, deflation remains a concern,' said Lynn Song, chief economist for Greater China at ING. In Hong Kong, the benchmark Hang Seng Index was down 0.74% at 23,970.39 points, while the Hang Seng China Enterprises Index fell 0.76% to 8,642.44 points.
Hindustan Times
29-05-2025
- Business
- Hindustan Times
China stocks look to snap five-day losing streak as US court blocks Trump tariffs
SHANGHAI, - Mainland China and Hong Kong stocks advanced on Thursday as sentiment improved after a U.S. trade court blocked President Donald Trump's so-called reciprocal tariffs that had weighed on global trade and roiled financial markets. Key Chinese stock indexes rebounded and looked set to snap their five-day losing streak, while the U.S. dollar rallied and gold sank in overseas market, as risk appetite sharply changed following the court decision. ** A U.S. trade court blocked President Donald Trump's tariffs from going into effect in a sweeping ruling on Wednesday that found the president overstepped his authority by imposing across-the-board duties on imports from U.S. trading partners. ** At the midday break, the Shanghai Composite index was up 0.72% at 3,363.97 points, while the blue-chip CSI300 index was up 0.68% 3,862.44 points. If both indexes retain all the gains at the close, they will post their first daily gain since May 21. ** The smaller Shenzhen index was up 1.23%, the start-up board ChiNext Composite index was higher by 1.16% and Shanghai's tech-focused STAR50 index was up 1.25%. ** In Hong Kong, the benchmark Hang Seng Index was up 0.65% at 23,408.36 points, while the Chinese H-share index listed in the financial hub, the Hang Seng China Enterprises Index rose 0.68% to 8,501.15 points. ** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.41% while Japan's Nikkei index was up 1.58%. ** However, gains in Chinese shares were capped as uncertainty around bilateral relations between Washington and Beijing still lingered, traders and analysts said. ** "The ruling gives an interim boost to risk sentiment which saw equity futures, bond yields and the dollar higher," said Frances Cheung, head of FX and rates strategy at OCBC Bank. "Development on tariff and trade relation remains fluid. Investors may be reluctant to load heavy positions on either side of the trade." ** The U.S. has ordered companies that offer software used to design semiconductors to stop selling to China without first getting an export license, sources told Reuters. ** However, Beijing-based Empyrean Technology Co , which is considered to be China's primary alternative to the U.S. giants like Cadence, Synopsys, and Siemens in the electronic design automation market, jumped 11.9% in morning deals. ** U.S. Secretary of State Marco Rubio announced on Wednesday the United States will start "aggressively" revoking visas of Chinese students, including those with connections to the Chinese Communist Party or studying in critical fields.
