A Modest Downtick To End The Week, Data, Property Sales & G20 Eyed

MNI (London) - Benchmark Chinese stock indices edged lower Friday, with continued worry re: the Chinese economic outlook noted as the impulse from the recent raft of policy measures faded further.

• The CSI 300 lost ~0.5%, edging closer to recent lows.
• The Hong Kong Exchange was closed owing to adverse weather conditions, meaning that the HK-China Stock Connect scheme and Chinese H shares were closed.
• Chinese inflation data will cross over the weekend, with CPI expected to exit a deflationary state and the degree of PPI deflation expected to ease again.
• Elsewhere, monthly credit and economic activity data will hit over the next week.
• It is also worth noting that weekend Chinese property sales will likely come under increased focus, recent stimulus provided a meaningful uptick last weekend.
• On that front, policy advisors and market analysts told our Beijing team that “local governments are weighing whether to scrap rules limiting the purchase of multiple houses by homeowners should the latest mortgage rule relaxations fail to stimulate sales during the Sept-Oct peak season.”
• Finally, Chinese Premier Li will be at the G20 summit over the weekend, with China reportedly looking to raise the issue of improved access to advanced semiconductors (per BBG sources).