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Benchmarks Little Changed, Mainland Inflows Seen Via Stock Connect

CHINA STOCKS

Little to highlight when it comes to Chinese & HK equity benchmarks today, with the CSI 300 (+0.2%) and the Hang Seng (+0.1%) stabilising.

  • Prada’s HK listing fell ~2.5% following Kering’s warning re: Gucci performance.
  • Data-related companies rallied after Tuesday’s guidance re: China improving cross-border data flow.
  • Li Ning shares benefitted from analyst expectations surrounding inventory and retail sales.
  • HK-China Stock Connect links provided a net ~CNY5.6bn of mainland inflows. China’s formal plan re: promoting inbound international investment likely helped.
  • That comes after yesterday’s net sales via those links broke a 7-day run of net purchases.
  • Policy discussions continued to be geared towards expectations for further easing via familiar channels.
  • The monthly LPR fixings were unchanged, as was widely expected.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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