China’s silicon wafer prices tumbled this week, with the prices of M6 and M10 monocrystalline silicon wafer sliding 15% – 20% from previous week, according to an industry association.
China’s equity investment market, including early investment, VC investment and private equity investment, reached 725.7 billion yuan in the first three quarters of the year, slumping 33.9% from a year ago, according a research report.
The People’s Bank of China (PBOC) will maintain the Chinese yuan’s exchange rate at a reasonable and balanced level and use multiple monetary policy tools to ensure ample liquidity in the financial system.
The Hang Seng Tech Index jumped as much as 5% at one point before paring gains to 4.4% as of 11:04 am local time. Bilibili is jumping 11%, JD.com up 6.6%, Kuaishou, Meituan and Baidu up more than 6%, Alibaba gaining 5.2% and Tencent up over 4%.Â
Chinese property developer stage a strong rally after the PBOC and the top securities regulator reiterated support to the sector. Ronshine China is jumping 20% as of 11:11 am local time in Hong Kong Logan Group up nearly 10%, CIFI Holdings up more than 6%.
China will promote high-quality opening of the capital markets, expand the Mainland – Hong Kong Stock Connect scheme and establish a mechanism for regular cooperation on audit supervision between Chinese and US to create a more stable and more predictable environment for international regulatory cooperation, said the China Securities Regulatory Commission (CSRC).
Indebted property developer Sunac China has reached a financing agreement with China Orient Asset Management Co. Ltd, one of the country’s four state-owned national distressed asset managers, for a property project in Wuhan.
Embattled property developer China Evergrande Group has managed to get support of numerous construction companies and construction material suppliers to protect the lawful rights and interests of its home-buyers and creditors.
China’s fiscal revenue grew by 24.6% in November from a year earlier, accelerating by 9 percentage points from the previous month, improving for the fourth consecutive month.
China’s postal parcel collection volume declined by 13.3% on December 12 from the previous day, while parcel delivery volume dropped by 1.2%.
Several regions in China have allowed people infected with Covid-19 but having no or mild symptoms to go back to office.
China’s mainstream mortgage rate for first-home buyers is 4.09% on average in December, unchanged from the previous month, remaining the lowest on record, according to a private research.
The city of Zhengzhou, capital of Central China’s Henan province, has raised 13 billion yuan to ensure property delivery, said the city’s vice mayor.
Tencent Holdings has acquired a 20% stake in a South Korean video gaming studio amid its overseas expansion, according to South Korean media Money Today Network.
The Hang Seng Index fell 1.3% to close at 19,094, the Hang Seng China Enterprises Index down 2% and the Hang Seng Tech Index tumbled by 3.1%.
In the A-share market, the Shanghai Composite Index fell 1.07% to close at 3,073, the Shenzhen Component Index sliding 1.6% and the tech-heavy Chinext Price Index down 1.5%.
The World Bank has cut its China growth outlook for this year and next, citing the impact of the abrupt relaxation of COVID-19 restrictions and persistent stress in the real estate sector.
Hong Kong on Tuesday further relaxed Covid restrictions and people will no longer need to show a negative test result to get into bars and restaurants, the health authority said at a press conference.Â
Online travel agency Trip.com posted stable earnings for the third quarter and in the fourth quarter, it’s expected to record a 29% drop in net revenue said the BofA Securities in a note.
Shares of Chinese property developers see a sell-off on Tutesday, with an index tracking the sector compiled by Wind Information, closed down 3.2%, making it one of the worst-performing sectors in the A-share market.
Tianqi Lithium slid as much as 5.8% in Hong Kong, before paring loss to 4.6%, while its Shenzhen-traded shares are sliding nearly 4% down.
Shares of SF Holdings down 2.2% in Shenzhen, Deppon Logistics down 1.9%, YTO Express down 1.4%, Yunda down more than 1%.
