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China & Hong Kong Equities Mixed On Disappointing China CPI Data

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Hong Kong and China equity are mostly lower today. The Hang Seng index slipped below the crucial 18,000 level due to disappointing China CPI data and speculation about new US chip restrictions. Despite these losses, mainland Chinese investors continued their buying streak of Hong Kong stocks for the 18th consecutive session, with net purchases reaching HK$321.3 billion this year. Additionally, Chinese regulators are considering stricter rules on how banks sell financial products, which could impact distribution channels for major hedge funds.

  • Hong Kong equities are lower today, HSTech Index is down 1.51%, while the Mainland Property Index is down 2.72% and the HS Property Index is down 2.10%, the HSI is down 1.45%
  • China onshore equities are mixed today. The CSI300 Real Estate Index is one of the worst performing indices, down 1.24%, small-cap indices are higher with the CSI1000 is up 0.37%, the CSI2000 down 1.32%, while the CSI300 is down 0.17%.
  • In the property space, China’s daily new home transaction volume increased by more than 60% during the Dragon Boat Festival (June 8-10) compared to the recent May Day holiday, indicating a market recovery following market-boosting policies, according to Securities Times. However, on a year-on-year basis, the daily transaction volume in 30 major cities declined by 16% during the Dragon Boat Festival.
  • PBoC Governor Pan Gongsheng pledged to enhance the dual-pillar regulatory framework of monetary and macro-prudential policy, according to an article in People’s Daily. The PBOC aims to deepen market-oriented reforms of interest rates and exchange rates. Additionally, China Securities Regulatory Commission chief Wu Qing stated that the CSRC will expedite the development of a comprehensive capital market supervision system.
  • Earlier, China's PPI for May was -1.4% y/y vs -1.5% est, while May CPI was 0.3% vs 0.4% est.
  • (MNI) China Press Digest June 12: PBOC, Shipping Price, Emission (See link)
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Hong Kong and China equity are mostly lower today. The Hang Seng index slipped below the crucial 18,000 level due to disappointing China CPI data and speculation about new US chip restrictions. Despite these losses, mainland Chinese investors continued their buying streak of Hong Kong stocks for the 18th consecutive session, with net purchases reaching HK$321.3 billion this year. Additionally, Chinese regulators are considering stricter rules on how banks sell financial products, which could impact distribution channels for major hedge funds.

  • Hong Kong equities are lower today, HSTech Index is down 1.51%, while the Mainland Property Index is down 2.72% and the HS Property Index is down 2.10%, the HSI is down 1.45%
  • China onshore equities are mixed today. The CSI300 Real Estate Index is one of the worst performing indices, down 1.24%, small-cap indices are higher with the CSI1000 is up 0.37%, the CSI2000 down 1.32%, while the CSI300 is down 0.17%.
  • In the property space, China’s daily new home transaction volume increased by more than 60% during the Dragon Boat Festival (June 8-10) compared to the recent May Day holiday, indicating a market recovery following market-boosting policies, according to Securities Times. However, on a year-on-year basis, the daily transaction volume in 30 major cities declined by 16% during the Dragon Boat Festival.
  • PBoC Governor Pan Gongsheng pledged to enhance the dual-pillar regulatory framework of monetary and macro-prudential policy, according to an article in People’s Daily. The PBOC aims to deepen market-oriented reforms of interest rates and exchange rates. Additionally, China Securities Regulatory Commission chief Wu Qing stated that the CSRC will expedite the development of a comprehensive capital market supervision system.
  • Earlier, China's PPI for May was -1.4% y/y vs -1.5% est, while May CPI was 0.3% vs 0.4% est.
  • (MNI) China Press Digest June 12: PBOC, Shipping Price, Emission (See link)