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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
Equities struggled as the post-CEWC details disappointed markets that are growing hungrier for fresh policy stimulus out of Beijing.
- The CSI 300 finished 1.7% lower on the day, while the Hang Seng was 0.9% worse off.
- Recent YtD lows in both indices were not tested.
- Property sub-indices were notable strugglers given a lack of formal fresh support outlined post-CEWC, although there was continued communique on the need for sector-specific support.
- Liquor producers continued to struggle on the back of recent reports re: impending price cuts to generate demand within the sector.
- AI-related names were supported by some coverage in the post-CEWC readout, with broader news surrounding the sphere also helping.
- SoE names looked to talk of sector reform in the post-CEWC readout, which provided some support.
- Xiaomi benefitted from a release of information re: its electrical vehicle models.
- International investors registered a third consecutive day of net sales of mainland equities via the HK-China Stock Connect schemes. This summed to a net 9.6bn of sales, representing the largest run of net daily sales seen since October.
Fig. 1: Daily Net Hong-Kong China Northbound Stock Connect Flows (CNYbn)
Source: MNI - Market News/Bloomberg
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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.
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