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Free Malaysia Today
01-07-2025
- 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.
Free Malaysia Today
27-06-2025
- Automotive
- Free Malaysia Today
China shares set for best week in 7 months on financials boost, Mideast truce
Onshore financial shares in China climbed nearly 4% this week. (EPA Images pic) SHANGHAI : China stocks were little changed today but were set to notch their biggest weekly gain in more than seven months, led by financial shares, as a ceasefire between Israel and Iran lifted investor sentiment. China's blue-chip CSI 300 Index was flat by the lunch break, while the Shanghai Composite Index lost 0.2%. Hong Kong benchmark Hang Seng was down 0.1%. 'Chinese brokerage stocks rallied sharply this week, buoyed by easing global geopolitical tensions and improved investor risk appetite,' Morgan Stanley analysts said in a note. 'Over a 6- to 12-month horizon, increased portfolio allocation to China appears likely, supported by improving market fundamentals and growing global investor demand for diversification,' they said. Tianfeng Securities jumped 10% today. The CSI 300 Index has risen 2.6% this week, on track for its strongest weekly gain since November 2024, while the Hang Seng Index advanced 3.3%, heading for its best week since March. Onshore financial shares climbed nearly 4% this week. China's industrial profits swung back into sharp decline in May from a year earlier, as factory activity slowed in the face of broader economic stress. The US has reached an agreement with China on how to expedite rare earth shipments to the US, a White House official said yesterday, amid efforts to end a trade war between the world's biggest economies. Shares of Xiaomi surged to a record high today, after the company launched a new electric car model with a strong beat on pre-orders. However, this has added pressure on other auto makers, with Li Auto and Xpeng down 1.4% and 2.7%, respectively. Hong Kong's Materials Index and mainland's Non-Ferrous Metals Index rose 2.5% and 2.4%, respectively, as non-ferrous metal prices such as copper broadly rallied.
