Free Trial
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.
CHINA STOCKS
After an indifferent start, China equities are pressing higher. The CSI 300 last around 0.6/0.7% higher. Broker related shares are surging, with gains of more than 10% for some individual names. This continues the recent run of outperformance for the financial sector (see the chart below). Earlier headlines from the HKMA Chief that the authorities are looking at expanding wealth connect products is likely helping at the margins.
- Property related shares are also doing better. The MNI China Press Brief noted earlier - "China will overhaul real-estate brokerage fee rules for second-hand housing purchases, aimed at lowering cost and increasing demand, according to the Ministry of Housing and Urban Rural Development" (see this link).
- We aren't seeing much wider positive spillover though, with the HSI still down around 0.40% at this stage.
Fig 1: CSI 300 Financials Sub-Index Rallying Strongly
Source: MNI - Market News/Bloomberg
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok