May 27, 2024 03:16 GMT
China & Hong Kong Equities Mixed
ASIA STOCKS
Hong Kong & Chinese equities are mixed today. It has been a slow start to the week, earlier we had Industrial profits, which were higher in April than March, there isn't much other data due out this week until PMI on Friday.
- Hong Kong equities are mixed today with property the worst performing sector again. The Mainland Property Index is down 1.42%, while the HS Property Index is down 1.19%, HStech Index is little changed, while the wider HSI is up 0.24%. In China, the CSI300 is up 0.27%, while the small-cap CSI1000 and CSI2000 Indices underperforming down 1% and 1.35% respectively, while the growth focus ChiNext Index is down 0.70%
- MNI China Press Digest May 27: Local Bond, CSRC, Multinational - (See link)
- The US will reimpose tariffs on hundreds of Chinese goods, allowing tariff exclusions on about half of 400 products to expire as part of a strategy to protect American manufacturing. The US Trade Representative announced that 164 exclusions will be extended through May next year, with all exemptions extended through June 14 for a transition period. Continued exclusions include motors and medical equipment, while exclusions for over 100 products, with no public comment, will end. This move follows Biden's plan to increase tariffs on electric vehicles and other imports due to alleged intellectual property theft by China.
- Looking ahead: China PMI on Friday, for Hong Kong we have Trade Balance later today, and Retail Sales of Friday
238 words