Latest news with #ChiNextIndex
RTHK
6 days ago
- Business
- RTHK
Hang Seng Index slips, ends four-day win streak
Hang Seng Index slips, ends four-day win streak The Hang Seng Index ended the day down 149.27 points, or 0.61 percent, at 24,325.40. File photo: RTHK Mainland and Hong Kong shares ended up weaker on Thursday after hitting multi-month peaks, as a relief rally over the ceasefire in the Middle East took a breather. In Hong Kong, the benchmark Hang Seng Index snapped a four-day winning streak to end the day down 149.27 points, or 0.61 percent, at 24,325.40, pulling back from a three-month high hit at the previous close. Up north, the benchmark Shanghai Composite Index ended down 0.22 percent at 3,448.45 after briefly touching the highest level since December during earlier trades. The Shenzhen Component Index closed 0.48 percent lower at 10,343.48. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 0.66 percent to close at 2,114.43. The brokers sector lost 1.7 percent to give up some of the gains seen on Wednesday and the rare earths sector declined 1.2 percent. Offsetting the onshore losses, the CSI Defence Index gained 0.4 percent while banking shares advanced 1 percent. While markets have been soothed by a ceasefire between Israel and Iran, traders were on edge about US President Donald Trump's July 9 deadline on imposing tariffs on trading partners and his pressure on the US Federal Reserve. 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. Japan's Nikkei share average touched its highest in almost five months, as a period of calm in the Middle East encouraged investors to buy back riskier assets, particularly chip and other high-tech shares. The Nikkei climbed 1.7 percent to 39,584.58 at the close and reached 39,615.59 at its highest point during the session, a level last seen on January 31. Artificial intelligence-linked stocks stood out, with startup investor SoftBank Group climbing 5.5 percent and chip-testing equipment maker Advantest advancing 5 percent. By contrast, the broader and less tech-heavy Topix rose 0.8 percent. (Reuters)
Korea Herald
13-06-2025
- Business
- Korea Herald
Post-Adjustment ChiNext Index Attracts Global Assets with Low Valuation and High Growth Potential
GUANGZHOU, China, June 13, 2025 /PRNewswire/ -- Starting June 16, the ChiNext Index will implement methodology adjustments, including a 20% cap on individual stock weights and an ESG negative screening mechanism, aiming to enhance the index's focus on high-growth, innovative firms while aligning with global standards. As of June 10, ETFs tracking the ChiNext Index held more than US$ 16.1 billion in assets, led by the E Fund ChiNext ETF (159915) accounting for US$ 11.6 billion under E Fund Management, China's largest mutual fund manager. Launched in 2010, the ChiNext Index, comprising 100 growth-oriented and innovative enterprises listed on the ChiNext Board, has undergone 53 revisions, reflecting China's economic transformation. The latest changes will further optimize its structure to emphasize emerging growth sectors –new-generation information technology (34%), new energy vehicle (24%) and healthcare (12%), underscoring its alignment with China's strategic shift toward high-tech innovation. According to Wind, its constituent companies have posted revenue growth of 9.5% YoY and ROE exceeding 12.5% in Q1 2025, demonstrating resilient profitability and breakthroughs in AI chips, EV batteries, and precision medicine. Valuation metrics reinforced appeal: the index trades at a 31x P/E ratio as of June 10, near the 10th percentile since its listing. By curbing concentration risks and embedding ESG criteria, the reforms strengthen the index's role in reflecting industrial evolution in China and global investment trends. International participation has surged through cross-border channels like Stock Connect, QFII, and feeder funds listed on foreign exchanges. The E Fund ChiNext ETF (159915), the largest among related ETFs, has consistently been the preferred instrument for international investors seeking exposure to China's tech-driven growth since its inclusion in the ETF Connect program in 2022, Over the past year, the fund has drawn in approximately US$ 2.55 billion, highlighting its appeal as a pivotal option in China's equity ETF market. About E Fund Established in 2001, E Fund Management Co., Ltd. ("E Fund") is a leading comprehensive mutual fund manager in China with over RMB 3.5 trillion (USD 497 billion) under management.* It offers investment solutions to onshore and offshore clients, helping clients achieve long-term sustainable investment performances. E Fund's clients include both individuals and institutions, ranging from central banks, sovereign wealth funds, social security funds, pension funds, insurance and reinsurance companies, to corporates and banks. Long-term oriented, it has been focusing on the investment management business since inception and believes in the power of in-depth research and time in investing. It is a pioneer and leading practitioner in responsible investments in China and is widely recognized as one of the most trusted and outstanding Chinese asset managers. Source: E Fund. AuM includes subsidiaries. Data as of March 31, 2025. FX rate is sourced from PBoC.
Yahoo
13-06-2025
- Business
- Yahoo
Post-Adjustment ChiNext Index Attracts Global Assets with Low Valuation and High Growth Potential
GUANGZHOU, China, June 13, 2025 /PRNewswire/ -- Starting June 16, the ChiNext Index will implement methodology adjustments, including a 20% cap on individual stock weights and an ESG negative screening mechanism, aiming to enhance the index's focus on high-growth, innovative firms while aligning with global standards. As of June 10, ETFs tracking the ChiNext Index held more than US$ 16.1 billion in assets, led by the E Fund ChiNext ETF (159915) accounting for US$ 11.6 billion under E Fund Management, China's largest mutual fund manager. Launched in 2010, the ChiNext Index, comprising 100 growth-oriented and innovative enterprises listed on the ChiNext Board, has undergone 53 revisions, reflecting China's economic transformation. The latest changes will further optimize its structure to emphasize emerging growth sectors –new-generation information technology (34%), new energy vehicle (24%) and healthcare (12%), underscoring its alignment with China's strategic shift toward high-tech innovation. According to Wind, its constituent companies have posted revenue growth of 9.5% YoY and ROE exceeding 12.5% in Q1 2025, demonstrating resilient profitability and breakthroughs in AI chips, EV batteries, and precision medicine. Valuation metrics reinforced appeal: the index trades at a 31x P/E ratio as of June 10, near the 10th percentile since its listing. By curbing concentration risks and embedding ESG criteria, the reforms strengthen the index's role in reflecting industrial evolution in China and global investment trends. International participation has surged through cross-border channels like Stock Connect, QFII, and feeder funds listed on foreign exchanges. The E Fund ChiNext ETF (159915), the largest among related ETFs, has consistently been the preferred instrument for international investors seeking exposure to China's tech-driven growth since its inclusion in the ETF Connect program in 2022, Over the past year, the fund has drawn in approximately US$ 2.55 billion, highlighting its appeal as a pivotal option in China's equity ETF market. About E Fund Established in 2001, E Fund Management Co., Ltd. ("E Fund") is a leading comprehensive mutual fund manager in China with over RMB 3.5 trillion (USD 497 billion) under management.* It offers investment solutions to onshore and offshore clients, helping clients achieve long-term sustainable investment performances. E Fund's clients include both individuals and institutions, ranging from central banks, sovereign wealth funds, social security funds, pension funds, insurance and reinsurance companies, to corporates and banks. Long-term oriented, it has been focusing on the investment management business since inception and believes in the power of in-depth research and time in investing. It is a pioneer and leading practitioner in responsible investments in China and is widely recognized as one of the most trusted and outstanding Chinese asset managers. Source: E Fund. AuM includes subsidiaries. Data as of March 31, 2025. FX rate is sourced from PBoC. View original content to download multimedia: SOURCE E Fund Management
RTHK
23-05-2025
- Business
- RTHK
HK stocks inch up amid US fiscal fears
HK stocks inch up amid US fiscal fears The Hang Seng Index rose 13.07 points, or 0.06 percent, to 23,557.30 in opening trades for the day. File photo: RTHK Asian shares made tentative gains on Friday as beaten-down Treasuries found buyers after US President Donald Trump's tax bill narrowly passed the lower house, although debt worries still lingered. In Hong Kong, the benchmark Hang Seng Index had a flat opening, rising a mere 13.07 points, or 0.06 percent, to 23,557.38. Across the border, the benchmark Shanghai Composite Index was down 0.1 percent to open at 3,376.87. The Shenzhen Component Index opened 0.09 percent lower at 10,210.62. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, was down 0.12 percent to open at 2,043.2. Australian shares edged higher, as gains in energy and bank stocks offset losses in miners and gold, with investors closing out a week shaped by the Reserve Bank of Australia's second interest rate cut in more than four years. Overnight, purchasing managers' index data around the globe showed US business activity picked up pace in May, which helped Wall Street rise earlier yesterday before running into selling pressures and closing the day largely flat. In contrast, disappointingly weak activity in Europe dragged shares there lower. Nasdaq futures and S&P 500 futures both were flat. The Republican-controlled US House voted by a slim margin to pass Trump's tax cut bill, which would fulfil many of his campaign pledges, but will increase the US$36.2 trillion US debt pile by US$3.8 trillion over the next decade. Treasury yields, especially at the longer-dated end, have climbed on worries about US fiscal health in the run-up to the passage of the bill. That was exacerbated by the decision from Moody's last week to downgrade the US credit rating, citing rising debt. In Asia, yields on super-long Japanese government bonds held near all-time highs on Friday. The 30-year yields have jumped 23 basis points this week and were last at 3.175 per cent, which is being monitored closely by the Bank of Japan. The MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 per cent on Friday but for the week it is still set for a loss of 0.4 per cent after five weeks of gains. (Reuters/Xinhua)
RTHK
16-05-2025
- Business
- RTHK
Hang Seng Index slips amid mixed market openings
Hang Seng Index slips amid mixed market openings The Hang Seng Index lost 204 points, or 0.87 percent, to open at 23,249.16 for the day. File photo: RTHK The Hang Seng Index fell 204 points, or 0.87 percent, to open at 23,249.16 on Friday. The retreat came as stocks across the border started lower, with the benchmark Shanghai Composite Index losing 0.18 percent to 3,374.71 in opening trades. The Shenzhen Component Index opened 0.28 percent lower at 10,157.68. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, was down 0.36 percent to open at 2,035.87. The region got off to a good start with Australian shares jumping to an over two-month high, led by gains in banks and miners, ahead of the Reserve Bank of Australia's policy decision next week, when the central bank is widely expected to cut interest rates. The S&P/ASX 200 index rose as much as 1.2 percent to 8,398.2, its highest level since February 20. The index was on track to log its eighth consecutive session of gains. The Nikkei Stock Average opened at 37,748.58, down 6.93 points, or 0.02 percent. The Korea Composite Stock Price Index opened at 2,630.64, up 9.28 points, or 0.35 percent.(Xinhua/Reuters)
