Latest news with #BOCInternational
Business Recorder
15-07-2025
- Business
- Business Recorder
China stocks gain on pickup in exports
HONG KONG: China and Hong Kong stocks inched higher on Monday, as markets reacted cautiously to positive trade data and awaited GDP figures amid lingering tariff concerns. At market close, China's blue-chip CSI300 Index edged up 0.1%, while the Shanghai Composite Index gained 0.3%, hovering near its highest level since October. In Hong Kong, the benchmark Hang Seng Index added 0.3% after swinging between gains and losses during the day, while the tech index added 0.7%. Fresh data released on Monday showed China's trade activities rebounded as exporters capitalised on a fragile tariff truce between Beijing and Washington ahead of a looming August deadline. Exports rose 5.8% year-on-year in June, beating forecast, while imports rebounded 1.1% following a 3.4% decline in May. Markets are now watching second-quarter GDP data due Tuesday, which is projected to grow 5.1%, according to a Reuters poll of economists. China's economy is now on track to achieve its 5% annual growth target, but might face growing pressure as upcoming US tariffs loom, according to analysts at BOC International. 'We recommend paying attention to the July Politburo meeting's guidance on economic growth prospects for the second half of the year and the deployment of growth stabilization measures. We temporarily maintain our optimistic view on risk assets,' they said. Leading gains in mainland on Monday, the banking sector climbed 0.5% to recoup some of Friday's loss. The energy sector added 1%. However, the property sector slipped 1.4%, continuing to pare last week's rally, which was spurred by speculation about potential stimulus measures.
RTHK
14-07-2025
- Business
- RTHK
Hang Seng Index rises amid GDP data wait
Hang Seng Index rises amid GDP data wait The Hang Seng Index closed at 24,203.32 on Monday, up 63 points or 0.26 percent. File photo: AFP Mainland Chinese and Hong Kong stocks ended trading on Monday inching higher as markets reacted cautiously to positive trade data and awaited GDP figures amid lingering tariff concerns. The benchmark Hang Seng Index closed 63 points, or 0.26 percent, up at 24,203.32. The Hang Seng China Enterprises Index rose 0.52 percent to end at 8,732.74 while the Hang Seng Tech Index rose 0.67 percent to end at 5,283.50. Up on the mainland, the benchmark Shanghai Composite Index rose 0.27 percent to 3,519.65 while the Shenzhen Component Index closed 0.11 percent lower at 10,684.52. The combined turnover at these two indexes stood at 1.46 trillion yuan, down from 1.71 trillion yuan on Friday. Stocks related to the papermaking and ceramic sectors led gains while stocks in the shipbuilding, media and entertainment sectors led losses. The ChiNext Index, which tracks China's Nasdaq-style board of growth enterprises, lost 0.45 percent to close at 2,197.07. Fresh data released on Monday showed China's trade activities rebounded as exporters capitalised on a fragile tariff truce between Beijing and Washington ahead of a looming August deadline. Exports rose 5.8 percent year on year in June, beating forecast, while imports rebounded 1.1 percent following a 3.4 percent decline in May. Markets are now watching second-quarter GDP data due on Tuesday, which is projected to grow 5.1 percent, according to a poll of economists. China's economy is now on track to achieve its 5 percent annual growth target, but might face growing pressure as upcoming US tariffs loom, according to analysts at BOC International. "We recommend paying attention to the July Politburo meeting's guidance on economic growth prospects for the second half of the year and the deployment of growth stabilization measures. We temporarily maintain our optimistic view on risk assets," they said. Leading gains in the mainland on Monday was the banking sector, which climbed 0.5 percent to recoup some of Friday's loss. The energy sector added 1 percent. However, the property sector slipped 1.4 percent, continuing to pare last week's rally, which was spurred by speculation about potential stimulus measures. There has been some noise saying that the central government may have new policies coming out to stimulate the markets nationwide, but "we believe that upcoming demand-side property market easing measures are likely incremental instead of large-scale," analysts at Goldman Sachs said in a note on Monday. Around the region, sentiment was weak as the latest salvo of threats in the US tariff wars kept investors on edge, though there were still hopes it was mainly a bluster by President Donald Trump. (Reuters/Xinhua)
Business Recorder
14-07-2025
- Business
- Business Recorder
China stocks gain on pickup in exports; Tuesday GDP data eyed
HONG KONG: China and Hong Kong stocks inched higher on Monday, as markets reacted cautiously to positive trade data and awaited GDP figures amid lingering tariff concerns. At market close, China's blue-chip CSI300 Index edged up 0.1%, while the Shanghai Composite Index gained 0.3%, hovering near its highest level since October. In Hong Kong, the benchmark Hang Seng Index added 0.3% after swinging between gains and losses during the day, while the tech index added 0.7%. Fresh data released on Monday showed China's trade activities rebounded as exporters capitalised on a fragile tariff truce between Beijing and Washington ahead of a looming August deadline. Exports rose 5.8% year-on-year in June, beating forecast, while imports rebounded 1.1% following a 3.4% decline in May. Markets are now watching second-quarter GDP data due Tuesday, which is projected to grow 5.1%, according to a Reuters poll of economists. China's economy is now on track to achieve its 5% annual growth target, but might face growing pressure as upcoming U.S. tariffs loom, according to analysts at BOC International. China, HK shares end lower as factory deflation deepens 'We recommend paying attention to the July Politburo meeting's guidance on economic growth prospects for the second half of the year and the deployment of growth stabilization measures. We temporarily maintain our optimistic view on risk assets,' they said. Leading gains in mainland on Monday, the banking sector climbed 0.5% to recoup some of Friday's loss. The energy sector added 1%. However, the property sector slipped 1.4%, continuing to pare last week's rally, which was spurred by speculation about potential stimulus measures. There has been some noise saying that the central government may have new policies coming out to stimulate the markets nationwide, but 'we believe that upcoming demand-side property market easing measures are likely incremental instead of large-scale,' analysts at Goldman Sachs said in a note on Monday. Around the region, sentiment was weak as the latest salvo of threats in the U.S. tariff wars kept investors on edge, though there were still hopes it was mainly a bluster by President Donald Trump. MSCI's Asia ex-Japan stock index was little changed, while Japan's Nikkei index was down 0.3%.
Business Recorder
12-05-2025
- Business
- Business Recorder
China's yuan strengthens after progress in Sino-US trade talks, but caution remains
SHANGHAI: The yuan strengthened on Monday despite dollar's rebound, reflecting market optimism after the US and China ended high-stakes trade talks on a positive note on Sunday. But analysts caution that uncertainty remains over Sino-US ties as they await details of any agreement, while China's central bank reiterated it would prevent currency overshooting. The yuan was trading around 7.2279 to the dollar in late morning, 0.13% stronger than the previous close. The global dollar index was up 0.3% in Asia trading hours. US Treasury Secretary Scott Bessent touted 'substantial progress' in trade discussions over the weekend, while Chinese officials said the sides had reached 'important consensus' and agreed to launch another new economic dialogue forum. Details would be announced later on Monday. Regarding the trade progress, 'we don't expect clear, directional breakthroughs in the short term,' Nanhua Futures said in a note to clients on Monday. 'In the backdrop of trade war 2.0, the long-term rivalry between China and the US in terms of economic resilience has just begun,' the brokerage said, expecting volatility ahead. Guan Tao, global chief economist at BOC International and a former forex regulator, said the trade talks 'bolsters the yuan in the short term, but the road ahead is uneven and twisted.' 'The stakes, and complexity of the talks is unprecedented. There will be ups and downs, progress and stalemates,' he told a webinar. 'The biggest certainty is uncertainty.' Reflecting a desire to keep the yuan relatively stable, China's central bank has set its guidance rate roughly around 7.20 per dollar over the past month. On Monday, the midpoint rate was set at 7.2066 prior to market open. China's yuan slips against dollar In its quarterly monetary policy report published on Friday, the People's Bank of China reiterated that it would 'resolutely' prevent forex overshooting risks, and keep the yuan basically stable. China's best choice under the current environment is to keep the yuan stable against the dollar, while allowing it to depreciate against a basket of other currencies, said Wang Jinbin, economics professor at the Renmin University of China. Such a strategy would steady capital flows, while aiding Chinese exports, he said.
