China & HK Equities Mostly Higher, Property Weighs On Sentiment

Hong Kong and China equities had a mixed performance today, influenced by positive developments in Tesla’s operations in Shanghai and regulatory changes in Hong Kong, while also weighed down by persistent concerns in the Chinese property market and mixed economic data. Overall, while tech and semiconductor stocks provided a boost, concerns over the property market and mixed economic indicators continued to cast a shadow over the broader market sentiment.

• Hong Kong Equities, the HSTech Index rose by 0.62%, the Mainland Property Index remained relatively flat, down just 0.10%, while the HS Property Index was slightly up by 0.10%, while the broader Hang Seng Index (HSI) increased by 0.45%.Hong Kong's bourse will now remain open during typhoons or torrential rains starting September 23, aligning with global practices, as announced by Chief Executive John Lee.
• China Onshore Equities, Small-cap indices saw gains with the CSI 1000 up by 0.90% and the CSI 2000 rising by 1.10%. The CSI 300 Real Estate Index fell by 0.46%, while the broader CSI 300 Index increased by 0.35%. The growth-focused ChiNext Index was up by 0.46%.
• Shares of Tesla’s China suppliers advanced following news of Shanghai’s approval for Tesla to test its advanced driver assistance system, boosting companies like NavInfo (+2.7%), Zhejiang Sanhua Intelligent (+2.7%), Lens Technology (+3.4%), and VT Ind Tech (+2.5%).China's pork-related stocks rose after the nation initiated an anti-dumping probe on EU imports, with New Hope Liuhe up 2.2% and Jiangxi Zhengbang Technology up 3%. Copper prices slipped to an eight-week low due to weak economic data from China, emphasizing the ongoing challenges in the property sector despite various government measures.
• Looking ahead, focus will turn to China's 1yr & 5yr LPR and Hong Kong Unemployment Rate on Thursday