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EQUITIES: Chinese Equities Edge Higher, Industrial Profits Fall 10%

EQUITIES
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Chinese equities are on track to end three days of negative returns, with the CSI 300 trading 0.95% higher at the break. Equities initial opening lower however, turned higher following Industrial Profits falling 10% marking the third month straight months of declines as worsening producer-price deflation and sluggish factory output overshadowed the impact of recent stimulus measures, with traders now expecting the PBoC to cut RRR to add liquidity and aid growth.

  • Tech has been the top performing sector for the CSI 300 today, trading up 2.45%, led by the likes of GoerTek & Luxshare after Huawei announced a new flagship phone. Hong Kong listed equities are also broadly higher, the HSTech Index is 0.80% higher, while the broader HSI is 0.45% higher, property stocks are trading mixed.
  • China's industrial profits fell 10% y/y in October, marking a third consecutive monthly decline despite recent stimulus efforts. Weak domestic demand, persistent deflation, and stagnant factory output overshadowed early signs of recovery, such as steady infrastructure investment and a drop in unemployment. Adding to concerns, U.S. President-elect Donald Trump's tariff threats pose new risks to China's export sector.
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Chinese equities are on track to end three days of negative returns, with the CSI 300 trading 0.95% higher at the break. Equities initial opening lower however, turned higher following Industrial Profits falling 10% marking the third month straight months of declines as worsening producer-price deflation and sluggish factory output overshadowed the impact of recent stimulus measures, with traders now expecting the PBoC to cut RRR to add liquidity and aid growth.

  • Tech has been the top performing sector for the CSI 300 today, trading up 2.45%, led by the likes of GoerTek & Luxshare after Huawei announced a new flagship phone. Hong Kong listed equities are also broadly higher, the HSTech Index is 0.80% higher, while the broader HSI is 0.45% higher, property stocks are trading mixed.
  • China's industrial profits fell 10% y/y in October, marking a third consecutive monthly decline despite recent stimulus efforts. Weak domestic demand, persistent deflation, and stagnant factory output overshadowed early signs of recovery, such as steady infrastructure investment and a drop in unemployment. Adding to concerns, U.S. President-elect Donald Trump's tariff threats pose new risks to China's export sector.