China Shares Jump After Logging Higher Fiscal Revenue in October

MT Newswires Live11-19

Chinese shares rebounded Tuesday after the country posted higher fiscal revenue in October amid strengthened economic momentum.

The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.67% or 22.16 points, to 3,346.01. The Shenzhen Component Index increased 1.9% or 199.82 points to 10,743.84.

China's fiscal revenue increased 5.5% year over year in October, while tax revenue increased 1.8% year over year.

For the first 10 months of the year, fiscal revenue slid 1.3% to 1.850 trillion yuan, while national tax revenue slid 4.5% year over year to 1.508 trillion yuan.

Fiscal expenditure increased 2.7% to 22.147 trillion yuan in the January-October period.

Meanwhile, Goldman Sachs and Morgan Stanley forecast a weaker renminbi currency by 2025. Goldman Sachs analysts expects the yuan to trade at 7.50 yuan per dollar while Morgan Stanley sees an exchange rate of 7.60 yuan per dollar compared with 7.24 yuan as of Nov. 19.

In the corporate front, Jiayou International Logistics (SHA:603871) closed 7% lower after its unit signed a $56.7 million concession contract to upgrade and reconstruct the Mocambo Port and Mufulira to Mocambo Road in Zambia.

China Petroleum and Chemical Corp or Sinopec's (SHA:600028) Shanghai shares closed 1% lower on Tuesday after partnering with Saudi Arabian petrochemical giant Aramco to build a $10 billion petrochemical plant in Fujian province. Sinopec will hold a 25% stake in the JV.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2484955819?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-19 15:42","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2484955819","market":"fut","top_or_hot":-1,"title":"China Shares Jump After Logging Higher Fiscal Revenue in October","media":"MT Newswires Live","content":"<html><body><p> Chinese shares rebounded Tuesday after the country posted higher fiscal revenue in October amid strengthened economic momentum.</p><p>The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.67% or 22.16 points, to 3,346.01. The Shenzhen Component Index increased 1.9% or 199.82 points to 10,743.84.</p><p>China's fiscal revenue increased 5.5% year over year in October, while tax revenue increased 1.8% year over year.</p><p>For the first 10 months of the year, fiscal revenue slid 1.3% to 1.850 trillion yuan, while national tax revenue slid 4.5% year over year to 1.508 trillion yuan.</p><p>Fiscal expenditure increased 2.7% to 22.147 trillion yuan in the January-October period.</p><p>Meanwhile, Goldman Sachs and Morgan Stanley forecast a weaker renminbi currency by 2025. Goldman Sachs analysts expects the yuan to trade at 7.50 yuan per dollar while Morgan Stanley sees an exchange rate of 7.60 yuan per dollar compared with 7.24 yuan as of Nov. 19.</p><p>In the corporate front, Jiayou International Logistics (SHA:603871) closed 7% lower after its unit signed a $56.7 million concession contract to upgrade and reconstruct the Mocambo Port and Mufulira to Mocambo Road in Zambia.</p><p>China Petroleum and Chemical Corp or Sinopec's (SHA:600028) Shanghai shares closed 1% lower on Tuesday after partnering with Saudi Arabian petrochemical giant Aramco to build a $10 billion petrochemical plant in Fujian province. Sinopec will hold a 25% stake in the JV.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China Shares Jump After Logging Higher Fiscal Revenue in October</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina Shares Jump After Logging Higher Fiscal Revenue in October\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-19 15:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese shares rebounded Tuesday after the country posted higher fiscal revenue in October amid strengthened economic momentum.The Shanghai Composite Index, the main gauge of Chinese stocks, rose ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"600028","symbol_name":"中国石化","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2484955819","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484955819","pubTimestamp":1732002142,"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Chinese shares rebounded Tuesday after the country posted higher fiscal revenue in October amid strengthened economic momentum.The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.67","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"600028":"中国石化","601899":"紫金矿业"},"translate_title":"十月份财政收入增加后中国股市上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"600028":0.9,"601899":0.9},"content_text":"Chinese shares rebounded Tuesday after the country posted higher fiscal revenue in October amid strengthened economic momentum.The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.67% or 22.16 points, to 3,346.01. The Shenzhen Component Index increased 1.9% or 199.82 points to 10,743.84.China's fiscal revenue increased 5.5% year over year in October, while tax revenue increased 1.8% year over year.For the first 10 months of the year, fiscal revenue slid 1.3% to 1.850 trillion yuan, while national tax revenue slid 4.5% year over year to 1.508 trillion yuan.Fiscal expenditure increased 2.7% to 22.147 trillion yuan in the January-October period.Meanwhile, Goldman Sachs and Morgan Stanley forecast a weaker renminbi currency by 2025. Goldman Sachs analysts expects the yuan to trade at 7.50 yuan per dollar while Morgan Stanley sees an exchange rate of 7.60 yuan per dollar compared with 7.24 yuan as of Nov. 19.In the corporate front, Jiayou International Logistics (SHA:603871) closed 7% lower after its unit signed a $56.7 million concession contract to upgrade and reconstruct the Mocambo Port and Mufulira to Mocambo Road in Zambia.China Petroleum and Chemical Corp or Sinopec's (SHA:600028) Shanghai shares closed 1% lower on Tuesday after partnering with Saudi Arabian petrochemical giant Aramco to build a $10 billion petrochemical plant in Fujian province. Sinopec will hold a 25% stake in the JV.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Economic Data","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484955819"}