• 72
  • 9
  • Favorite

China stocks rise on hopes of policy easing

Reuters2021-08-09

Aug 9 (Reuters) - China stocks rose on Monday, with a strong rebound in blue-chip stocks offsetting losses in highly-valued tech shares, as signs of slowing economic growth fanned hopes of fresh policy easing.

** The blue-chip CSI300 index rose 1.3% to 4,985.56, while the Shanghai Composite Index rose 1% to 3,494.63.

** China's factory gate inflation climbed 9% in July, rising at a faster clip from the previous month and above expectations, adding to strains on an economy losing recovery momentum. (nL1N2PG01P)

** Domestic export growth unexpectedly slowed last month, following outbreaks of COVID-19 cases. Global banks including JPMorgan, Morgan Stanley and Goldman Sachs reduced forecasts for China's GDP growth.

** "We expect another 50bp RRR cut this year, while local government bond issuance could accelerate in the coming months to support infrastructure investment," Morgan Stanley wrote, citing the need for more policy support to stabilize the job market.

** China's consumer staples sector and real estate indexes led the increase, jumping 3.09% and 5.80% respectively.

** But new energy and semiconductor companies fell, as Chinese regulators said last week they would continue to closely monitor the price and market order of chips. (nL1N2PA06O)

** State-owned Westone Information Industry Inc surged 10% to 31.52 yuan ($4.87), its near two-year high as Reuters reported last Saturday that it would be the main third-party company to manage Chinese ride-hailing firm Didi Global Inc's massive data stored domestically.

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.

Report

Comment9

  • YeeMeng
    ·2021-08-11
    About time to acquire china shares
    Reply
    Report
  • Rashamon96
    ·2021-08-09
    Up
    Reply
    Report
  • Greenhulk
    ·2021-08-09
    Badly hit for the past few week!!
    Reply
    Report
    Fold Replies
    • 2021koon
      same here
      2021-08-10
      Reply
      Report
    • bobohaha
      being stuck there.. orz
      2021-08-09
      Reply
      Report
  • Jimmyboy
    ·2021-08-09
    Please like and comment.
    Reply
    Report
  • MrDropout
    ·2021-08-09
    Like please!
    Reply
    Report
  • Farida
    ·2021-08-09
    Ok
    Reply
    Report
    Fold Replies
    • uyc
      萌萌
      2021-09-02
      Reply
      Report
  • FlorCheah
    ·2021-08-09
    Hopefully it's sustainable.. Up
    Reply
    Report
    Fold Replies
    • xavan
      Good
      2021-08-09
      Reply
      Report
    • YeeMeng
      me too
      2021-08-11
      Reply
      Report
  • Jyao
    ·2021-08-09
    Nice
    Reply
    Report
  • ZPhyruz
    ·2021-08-09
    Like
    Reply
    Report
    Fold Replies
    • Jyao
      Sure
      2021-08-09
      Reply
      Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial