MNI: BOJ Tankan: Key Sentiment Rises, Solid Capex Plans

MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI: UK DEC GFK CONSUMER CONFIDENCE INDEX -17

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

China & Hong Kong Equities Mixed, China Property Faces Further Troubles

ASIA STOCKS
Hong Kong & China equities are mixed today, with Hong Kong equities out-performing today. China returns from an extended break and is trading lower. The wind-up petition for Chinese Property Developer Shimao Group has been seen as the major cause of weakness in the region, while the PBoC kept the yuan’s reference rate within its recent range in its daily fixing Monday in a bid to stabilize the currency after its slide toward weak end of trading band.
  • Hong Kong equities are higher today, after closing Friday unchanged. The Mainland property Index is up 1.60%, slightly out-performing the HSTech Index which is up 1.20%, Chinese Stocks listed in Hong Kong have erased earlier losses of 0.90% to now trade up 1.20%, while the HSI is up 1.00%. China equity markets are mostly lower today after returning from an extended break the CSI300 is down 0.10%, while the smaller-cap CSI1000 is down 0.40% and growth focused ChiNext is down 0.50%
  • In the property space, Shimao Group disclosed that China Construction Bank (Asia) filed a winding-up petition against them in Hong Kong on April 5, concerning a financial obligation of approximately HK$1.58 billion ($202 million). Despite this, the company intends to strongly contest the petition and remains committed to pursuing an offshore restructuring plan. Sunac China plans to offload its remaining 51% stake in the Chongqing College Town project, along with associated debts, to Chongqing Xiangyu Real Estate and Xiamen Xianghe Investment for 540 million yuan ($74.7 million), as reported in an HKEX filing. This divestment marks Sunac's exit from the project, which is still under construction, and aims to address the outstanding debt concerns.
  • In March, the country's foreign-exchange reserves increased by $19.84 billion to reach $3.246 trillion, growing 0.62%, according to the State Administration of Foreign Exchange. Additionally, the People's Bank of China announced a new 500-billion yuan ($69 billion) relending program to support the development of science and technology. The program aims to provide one-year loans to smaller technology companies at an interest rate of 1.75% to facilitate technology and equipment upgrades.
  • Looking ahead it's a quiet start to the week with eyes on China CPI & PPI on Thursday
Energy BulletsHomepagemarkets-real-timeBulletCommodities
Energy BulletsHomepagemarkets-real-timeBulletCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.