Latest news with #CSI300
Free Malaysia Today
15 hours ago
- Business
- Free Malaysia Today
China stocks edge higher, led by financial shares
The Shanghai Composite Index gained 0.2%. (AFP pic) SHANGHAI : China stocks edged up today, led by gains in financial shares, as a private survey showed China's factory activity expanded in June, while investor attention shifted to company earnings. Hong Kong markets were shut for a local holiday. China's blue-chip CSI300 Index added 0.1% by the lunch break, while the Shanghai Composite Index gained 0.2%. China's factory activity returned to expansion in June, supported by an increase in new orders that lifted production, a private sector survey showed today. Financial shares rebounded today and led gains onshore, after falling for three straight sessions. The sector has outperformed the benchmark CSI 300 Index, and is up 7% this year. Financial stocks such as insurance and state-owned banks remain the preferred core holdings as they offer defensive value in the short term and stand to benefit from yuan appreciation over the medium term, said analysts at Huatai Securities. Artificial intelligence and real estate shares fell 1% each. Mainland stocks were roughly flat in the first half of the year, as Chinese investors are piling into Hong Kong shares, lured by lower valuations and the city's strategic position in China's growing rivalry with the US. Investors are closely monitoring the upcoming half-year earnings season for onshore stocks, starting in July, to gauge whether corporate fundamentals are showing signs of improvement.
Business Times
15 hours ago
- Business
- Business Times
Chinese money fires up Hong Kong shares
[SHANGHAI/HONG KONG] Chinese investors are piling into Hong Kong shares lured by lower valuations and the city's strategic position in China's growing rivalry with the United States. A record US$90 billion of cash from the mainland has driven a stellar 21 per cent rally in Hong Kong stocks in the first half of 2025, reshaping the landscape of a market foreign investors have avoided for several years. 'The Hong Kong stock market is being repriced by mainland money,' said Chen Dong, fund manager at Hangzhou Ultraviolet Private Fund. Chinese money 'is gushing in from various directions in a gold rush,' he said. In stark contrast, China's benchmark CSI 300 has barely moved. Disillusioned with the languid market, low returns and a stuttering domestic economy, domestic investors have shifted money from onshore A-shares to Hong Kong-listed equities, where stocks typically trade at a discount. Hong Kong's H-share market has gained from robust flows via the cross-border link Stock Connect, a bumper string of initial public offerings (IPOs) and global investors diversifying away from a weakening US dollar. For 40-year-old Chinese investor Zhu Haifeng, Hong Kong equities now account for 80 per cent of his portfolio. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up For a dual-listed company, 'you certainly want to pay less for the same assets', said Zhu, who bought Hong Kong-listed shares of Tsingtao Brewery and Guangzhou Baiyunshan Pharmaceutical – both trading at a sharp discount to their Shanghai-traded counterparts. Mainland investors via Stock Connect now contribute to 50 per cent of Hong Kong's daily stock turnover, up from around 30 per cent at the beginning of 2024, Societe Generale estimates. Institutional money is gushing in too, causing the gap in dual-listed stocks to compress, although China's capital controls ensure some variance remains. The average premium of China's A-shares over Hong Kong's H-shares – traditionally high due to bigger volumes and activity in China – has narrowed to a five-year low of under 30 per cent. Rally has legs The tighter spreads potentially reduce the incentives for mainland investors to buy H-shares, but analysts expect Hong Kong's bull run to continue. US President Donald Trump's erratic policies, fresh US rate cuts and bets on China's technological innovations will drive more money into the former British colony. High-dividend bank shares in Hong Kong have attracted yield-focused investors such as Ping An Insurance and China Life, as long-term treasury yields flirt with record lows. The dividend yield of an index tracking Hong Kong-listed Chinese companies stands at 3.7 per cent, higher than the 2.9 per cent ratio for Chinese benchmark CSI 300, according to LSEG data. That compares with China's 10-year bond yield of 1.65 per cent. Hong Kong has evolved into a proxy of 'national champions', Linda Lam, head of equity advisory for North Asia at UBP said, referring to Hong Kong's tech-heavy listings. In comparison, mainland A-shares have a lot more macro-sensitive sectors, weighing on investor sentiment, she said. Goldman Sachs this month published a list of 10 'prominent' Chinese companies with 'buy' recommendations, most of which are not listed on the mainland. They include Tencent Holdings, Alibaba Group and Xiaomi – companies invested in artificial intelligence and holding sway in China's tech war with the United States. Guo Changzhen, a retail investor based in China's central Henan province, started buying Hong Kong's high-dividend shares late last year. 'Chinese bond yields are low, deposit rates are low, so where else do you put money without too much risk-taking,' said Guo, who owns Chinese companies listed in Hong Kong but not at home. Wang Yi, chief investment officer of CSOP Asset Management, said he remains bullish on Hong Kong stocks. 'We have seen more global investors turning their attention back to the market,' he said. REUTERS
Time of India
2 days ago
- Business
- Time of India
Asian markets show optimism: Stocks steady as US-Canada trade talks progress; eye on US jobs data due this week
AI-generated image Asian equity markets showed strength on Monday, buoyed by optimism over US-Canada trade negotiations and sustained demand in the global technology sector. However, gains were tempered by concerns around upcoming US employment data, which weighed on the dollar. Japan's Nikkei led the region with a 1.6 per cent gain, supported by strong performances in tech and export-oriented stocks. South Korea's benchmark index also rose 0.8 per cent, following a positive lead from Wall Street. Chinese markets were mixed. The blue-chip CSI300 index edged up 0.2 per cent, helped by improved June data in manufacturing and services, while broader Asian sentiment remained cautious. The MSCI Asia-Pacific ex-Japan index dipped 0.2 per cent. The market gains came amid encouraging signals from North America, where Canada on Sunday agreed to drop its proposed digital services tax in a bid to move forward trade negotiations with the US. Talks, originally slated to wrap up by July 9 under President Donald Trump 's directive, have now been extended to July 21, with a potential finalisation by Labor Day (September 1). This is a significant turning point as Trump had announced suspension of trade talkswith Canada just days ago. Read more: US-Canada trade talks resume as PM Carney revokes tax on US tech firms Tech stocks continued to drive momentum globally, with Nasdaq futures up 0.4 per cent and S&P 500 e-minis rising 0.3 per cent. Heavyweights such as Nvidia, Alphabet, and Amazon remained in focus. Still, investor attention remains fixed on key US macroeconomic data and fiscal policy developments. A Senate vote on major tax and spending legislation remains uncertain ahead of Trump's July 4 deadline. The Congressional Budget Office's projection of a $3.3 trillion increase in national debt is also dampening global appetite for US Treasuries. The US jobs report- due early this week due to Friday's holiday- forecasts 110,000 new jobs in June, with unemployment possibly ticking up to 4.3 per cent. A weaker labour market could increase expectations of Federal Reserve rate cuts later this year, currently pricing in a cumulative 63 basis points reduction. The dollar slipped to 97.146 on the dollar index, with the euro climbing to $1.1727, its highest since September 2021. Sterling also hovered near multi-year highs at $1.3722. James Reilly of Capital Economics noted the greenback's recent slide marked its sharpest sustained decline since the move to free-floating exchange rates in 1973. Meanwhile, gold traded at $3,279 an ounce- below its April peak- and oil prices continued to drop, with Brent crude at $67.50 and US crude at $65.09 amid ongoing concerns over OPEC+ supply levels. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
5 days ago
- Business
- Business Standard
Stocks to Watch today: Tata Power, Arkade Developers, Hitachi Energy, NTPC
Stocks to Watch Today, Friday, June 27, 2025: Indian benchmark indices, now less than 3 per cent below their all-time highs, are poised to rise for a fourth straight session, buoyed by positive global cues. The early indicator of Nifty50 performance -- GIFT NIFTY -- was up 112 points or 0.44 per cent at 25,727 as of 7:45 AM. Equity markets in Asia advanced, tracking gains on Wall Street, driven by hopes for a rate cut and easing geopolitical tensions. Last checked, Japan's Nikkei was higher by 1.5 per cent, and China's CSI 300 was up 0.8 per cent. Gains in stocks come amid reports that the US and China have finalised a trade understanding that was reached last month in Geneva. Overnight, US equity indices briefly topped their all-time high as tensions between Iran and Israel eased. Further, the first quarter consumer spending growing at the weakest pace since the pandemic has triggered hopes for an early rate cut. The S&P 500 index closed 0.8 per cent higher, while the Dow Jones Industrial Average was up 0.94 per cent. Back home, on Thursday, the BSE Sensex settled 1000.36 points or 1.21 per cent higher at 83,755.87, while the Nifty50 rose 304.25 points or 1.21 per cent to end at 25,549.00. Track LIVE Stock Market Updates Here Meanwhile, below are some stocks to watch during today's session: New India Assurance Company: The company said tax authorities have issued a show cause notice with a demand of ₹2,298 crore Goods and Services Tax (GST) for five financial years. It has received a show cause notice dated June 26, 2025, from the office of the Additional Commissioner, Mumbai-South, and Maharashtra state. Tata Power: The company has applied to distribute electricity to various pockets of Maharashtra as part of its efforts to expand beyond the financial capital, according to a PTI report. The company has filed for a license across key growth regions, including parts of Mumbai, Pune, Sambhaji Nagar and Nashik. Arkade Developers: The realty major has acquired redevelopment rights for a society located in Bangur Nagar, Goregaon West, with a revenue potential of ₹350 crore. The society is spread across 1.1 acres and offers a saleable area of approximately 86,000 square feet. Hitachi Energy India: The firm secured an order from Power Grid Corporation of India to deliver 30 units of 765-kilovolt (kV), 500 megavolt-ampere (MVA), single-phase transformers. These ultra-high voltage alternating current (UHV AC) transformers are capable of handling power equivalent to the average consumption of 30 million households in India. AstraZeneca: The global bio-pharmaceutical major has established its state-of-the-art Global Hub in Bengaluru, investing ₹166 crore to focus on the development of AI-powered healthcare solutions, as per a PTI report. The new facility in Bengaluru is designed to accommodate nearly 1,300 employees, including 400 new jobs. HCL Technologies: The tech major launched its orchestration consultation and implementation services, aimed at accelerating enterprises' adoption of Salesforce Agentforce across various industries. Embassy Developments: On Thursday, the company acquired 100 per cent equity in Squadron Developers for ₹456.61 crore, making it a wholly owned subsidiary as part of its ongoing growth strategy. Sterling Tools: The company received a GST Show Cause Notice alleging short payment, interest, and excess ITC claim, with a total demand of ₹9.96 crore, including interest and penalties, from CGST Dehradun. Premier Energies: The company announced the successful commissioning of its new 1.2 Gigawatt (Gw) TOPCon solar cell manufacturing line at Fab City, Hyderabad, Telangana. It is one of the first few solar manufacturers in India to operationalise a TOPCon production line, capable of delivering solar cell efficiencies exceeding 25 per cent, the company said. UltraTech Cement: The cement maker commissioned its second cement grinding mill with a capacity of 1.8 million tonnes per annum (mtpa) at the company's unit in Maihar, Madhya Pradesh. After this, the company's consolidated domestic grey cement capacity stands at 186.86 mtpa. Power Mech Projects: The company has secured orders from the Bihar State Power Generation company to set up 13.66 Mw solar power projects under PM-KUSUM C2 Scheme in Bihar. Estimated revenue over 25 years through PPAs with Discoms is approximately ₹159 crore. Western Carriers: The firm secured a ₹230 crore, three-year contract from Jindal Stainless Ltd for integrated EXIM logistics, covering container transport, customs clearance, last-mile delivery, and related logistics services across multiple locations.
Business Recorder
5 days ago
- Business
- Business Recorder
China stocks retreat 7-month high following Mideast calm
HONG KONG: China and Hong Kong shares weakened on Thursday after hitting multi-month peaks, as a relief rally over the ceasefire in the Middle East took a breather. At market close, the Shanghai Composite index declined 0.2% after briefly touching the highest level since December during earlier trades. China's blue-chip CSI300 index lost 0.4%. The brokers sector lost 1.7% to give up some of the gains seen on Wednesday and the rare earth sector declined 1.2%. Offsetting the onshore losses, the CSI Defence Index gained 0.4% while banking shares advanced 1%. In Hong Kong, the benchmark Hang Seng Index snapped a four-day winning streak and weakened 0.6%, pulling back from a three-month high hit at the previous close. While markets have been soothed by a ceasefire between Israel and Iran, traders were on edge about Trump's July 9 deadline on imposing tariffs on trading partners and his pressure on the Fed. China stocks closes at six-month high as ME truce lifts sentiment China markets are expected to face some volatility pressure between July and August following the recent gains, and investors are advised to remain cautious in the short term, analysts at Morgan Stanley said in a note. Analysts at Goldman Sachs said in a note on Thursday that they have observed strength across China assets from the trading desks with long-only funds and hedge funds both getting more active. Clients' feedback now expect more retail participation following the recent rally. Still, the upcoming earnings season and corporate guidance for the second half will be the key focus as there's limited visibility on macro support, they added.
