Chinese tourism companies and catering companies continue to rally on Thursday after China suspended marking cities with Covid infections in its tracking system and relaxed quarantine rules for overseas arrivals and close contacts of Covid cases, which are expected to boost travel demand.
China’s official non-manufacturing PMI for June comes in at 54.7, picking up sharply from 47.8 in the previous month, returning to expansionary territory after three-month contraction, according to the National Bureau o Statistics.
Hong Kong stocks open lower on Thursday, with the benchmark Hang Seng Index down 0.36% at 2,1917, the Hang Seng China Enterprises Index down 0.5% and the Hang Seng Tech Index down 0.69%.
Tianqi Lithium opens its retail books on Thurday in a share offering that could raise up to US$2 billion, which would be the biggest initial public offering in Hong Kong this year.
China’s copper futures are declining for the third consecutive week amid expectations of sluggish demand and ample supply .
S&P Global Ratings raised Chinese state-backed real estate developer Greenland Holdings Corp Ltd’s rating by one notch to “CCC”, after the company completed a one-year maturity extension on $500 million in senior unsecured notes.
China’s Foreign Ministry said on Wednesday that it has lodged stern representations with the US after the latter blacklisted five Chinese companies for allegedly supporting Russia military and defense industrial base.
Retail sales of passenger vehicles in China reached 1.42 million units in the period of June 1 – 26, rising 27% from a year earlier and surging 37% from the same period in the previous month, said the China Passenger Car Association.
China’s logistics platform Full Truck Alliance Co said that new user registration on its apps Yunmanman and Huochebang would resume with immediate effect.
