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Monday’s Recovery In Risk & SOE News Helps Chinese Benchmarks Higher


Chinese equities looked to the positive lead from the U.S. benchmarks, after U.S. efforts to mitigate tensions in the wider Middle East region and a lack of weekend intensification in the Israeli-Hamas conflict helped the broader risk dynamic on Monday.

  • That allowed the benchmark mainland CSI 300 to add 0.4% on Tuesday, while Hong Kong’s Hang Seng added 0.8%.
  • More granularly, SOEs benefitted from ten more names in the space disclosing share buybacks or increased state exposure plans on Monday,
  • Conversely, names linked to weight loss drugs struggled after one company apologised for misleading investors re: the related treatments.
  • HK-China Stock Connect flows were still tilted towards net selling of mainland equities (albeit at a more tepid pace of CNY3.1bn today).
  • Q3 GDP and monthly economic activity data headline the Chinese data docket on Wednesday.
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