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Business Recorder
3 hours ago
- Business
- Business Recorder
China stocks gain, HK loses as manufacturing contraction eases
HONG KONG: China stocks erased earlier losses to close higher on Monday, while Hong Kong shares pulled back after their best week in months as manufacturing data showed some resilience in the face of a fragile trade truce with the US China's blue-chip CSI300 Index added 0.4% to hover near a three-month high. The Shanghai Composite Index rose 0.6%. Hong Kong's benchmark Hang Seng index fell 0.9% after gaining more than 3% last week. The index advanced more than 20% in the first half of the year, making it among the top performers among global markets. The Hang Seng China Enterprises Index lost 1% on Monday. The defence sector rallied 4.2% to its highest since November, boosting onshore shares. The chip sector jumped 1.6% and the rare earths sector advanced 2.1%. However, the banking sector and the brokers sub-index declined by 0.3% and 0.5%, respectively, paring some of last week's gains. Data released on Monday showed the official purchasing managers' index rose to 49.7 in June from 49.5 in May, marking the third month of contraction for manufacturing activities. A reading below 50 indicates contraction. 'Impact of the tariff truce has been limited and should not be overstated,' Nomura analysts said in a note. Onshore investors have turned less bearish on China's near-term growth outlook as macro data so far this year has been more resilient than expected despite notable divergence between exports and domestic demand, analysts at Goldman Sachs said. 'Onshore clients see a possibility for exports to be more resilient than feared in the second half and even beyond,' they said, adding that investors have also lowered their expectations for more easing measures from Beijing.
RTHK
18 hours ago
- Business
- RTHK
HK stocks retreat after best week in months
HK stocks retreat after best week in months The Hang Seng Index ended the day at 24,072. File photo: RTHK China stocks erased earlier losses to close higher on Monday, while Hong Kong shares pulled back after their best week in months as manufacturing data showed some resilience in the face of a fragile trade truce with the United States. The benchmark Hang Seng Index ended the day at 24,072, down 211 points or 0.87 percent. The Hang Seng China Enterprises Index fell 0.96 percent to end at 8,678 while the Hang Seng Tech Index slid 0.72 percent to 5,302. Up north, stocks closed higher, with the benchmark Shanghai Composite Index up 0.59 percent at 3,444. The Shenzhen Component Index closed 0.83 percent higher at 10,465. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 1.35 percent to close at 2,153. The combined turnover of these two indices exceeded 1.51 trillion yuan, up from 1.12 trillion yuan the previous trading day. Shares in the defence industry and semiconductor sector were among the biggest gainers, while those related to banking and brokerages suffered the most. Japan's key stock index extended its winning streak for a fifth consecutive session on Monday, its highest in nearly 11 months as market sentiment was boosted by expectations that the United States may cut interest rates later this year. The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 40,487, up 336 points, or 0.84 percent, from the previous trading day. Early in the day, the Nikkei surged by over 700 points, buoyed by gains in US tech stocks, particularly the Nasdaq Composite. However, gains were trimmed in the afternoon session as profit-taking emerged, especially in futures trading. (Reuters/Xinhua)
RTHK
19 hours ago
- Business
- RTHK
HK stocks retreat after best week in months
HK stocks retreat after best week in months The Hang Seng Index ended the day at 24,072. File photo: RTHK China stocks erased earlier losses to close higher on Monday, while Hong Kong shares pulled back after their best week in months as manufacturing data showed some resilience in the face of a fragile trade truce with the United States. The benchmark Hang Seng Index ended the day at 24,072, down 211 points or 0.87 percent. The Hang Seng China Enterprises Index fell 0.96 percent to end at 8,678 while the Hang Seng Tech Index slid 0.72 percent to 5,302. Up north, stocks closed higher, with the benchmark Shanghai Composite Index up 0.59 percent at 3,444. The Shenzhen Component Index closed 0.83 percent higher at 10,465. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 1.35 percent to close at 2,153. The combined turnover of these two indices exceeded 1.51 trillion yuan, up from 1.12 trillion yuan the previous trading day. Shares in the defence industry and semiconductor sector were among the biggest gainers, while those related to banking and brokerages suffered the most. Japan's key stock index extended its winning streak for a fifth consecutive session on Monday, its highest in nearly 11 months as market sentiment was boosted by expectations that the United States may cut interest rates later this year. The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 40,487, up 336 points, or 0.84 percent, from the previous trading day. Early in the day, the Nikkei surged by over 700 points, buoyed by gains in US tech stocks, particularly the Nasdaq Composite. However, gains were trimmed in the afternoon session as profit-taking emerged, especially in futures trading. (Reuters/Xinhua)
Business Recorder
a day ago
- Business
- Business Recorder
China stocks flat, HK loses on persisting manufacturing contraction
HONG KONG: China stocks were flat on Monday, while Hong Kong shares pulled back after their best week in two months as manufacturing data showed continued contraction in the face of a fragile trade truce with the US At the midday trading break, China's blue-chip CSI300 Index was little changed at 3,922.29 after gaining 2% last week, while the Shanghai Composite Index rose 0.2%. Hong Kong's benchmark Hang Seng fell 0.4% after gaining more than 3% last week. The Hang Seng China Enterprises Index lost 0.5%. The defence sector rallied 3.8% to its highest since November, boosting onshore shares. The chip sector jumped 1.6% and the rare earth sector advanced 1.1%. However, the banking sector and the brokers sub-index declined by 0.9% and 0.8%, respectively, paring some of last week's stellar gains. China's manufacturing activity shrank for a third straight month in June, though at a slower pace. The official purchasing managers' index (PMI) rose to 49.7 in June from 49.5 in May, data released on Monday showed, remaining below the 50-mark that separates growth from contraction. June's PMI marked the third month of contraction for manufacturing, suggesting factory managers are struggling to find domestic buyers as overseas sales stutter amid frail trade truce with the US However, onshore investors turned less bearish on China's near-term growth outlook as macro data so far this year has been more resilient than expected despite notable divergence between exports and domestic demand, analysts at Goldman Sachs said.
Mint
a day ago
- Business
- Mint
China stocks flat, HK loses on persisting manufacturing contraction
HONG KONG, - China stocks were flat on Monday, while Hong Kong shares pulled back after their best week in two months as manufacturing data showed continued contraction in the face of a fragile trade truce with the U.S. ** At the midday trading break, China's blue-chip CSI300 Index was little changed at 3,922.29 after gaining 2% last week, while the Shanghai Composite Index rose 0.2%. ** Hong Kong's benchmark Hang Seng fell 0.4% after gaining more than 3% last week. The Hang Seng China Enterprises Index lost 0.5%. ** The defence sector rallied 3.8% to its highest since November, boosting onshore shares. The chip sector jumped 1.6% and the rare earth sector advanced 1.1%. ** However, the banking sector and the brokers sub-index declined by 0.9% and 0.8%, respectively, paring some of last week's stellar gains. ** China's manufacturing activity shrank for a third straight month in June, though at a slower pace. ** The official purchasing managers' index rose to 49.7 in June from 49.5 in May, data released on Monday showed, remaining below the 50-mark that separates growth from contraction. ** June's PMI marked the third month of contraction for manufacturing, suggesting factory managers are struggling to find domestic buyers as overseas sales stutter amid frail trade truce with the U.S. ** However, onshore investors turned less bearish on China's near-term growth outlook as macro data so far this year has been more resilient than expected despite notable divergence between exports and domestic demand, analysts at Goldman Sachs said. **"Onshore clients see a possibility for exports to be more resilient than feared in H2 and even beyond... domestic easing mode is 'reactive' rather than preemptive," they added. This article was generated from an automated news agency feed without modifications to text.
