Shares of China’s Everbright Securities tumbles nearly 7% in Shanghai after Hong Kong’s securities watchdog reprimanded and fined China Everbright Securities (HK) HK$3.8 million for breaching anti-money laundering rules.
Hong Kong stocks open lower, with the benchmark Hang Seng Index down 0.62%, the Hang Seng China Enterprises Index down 0.63%, and the Hang Seng Tech Index down 1.2%.
China’s most-traded iron ore futures contract on the Dalian Commodity Exchange, for September delivery, tumbles by nearly 6% on Thursday night to hit 823 yuan per tonne. The most-traded contracts of steel rebar, coking coal and hot-rolled coil are sliding nearly 4% and coke down more than 3%.
Several Chinese carriers including Air China, Hainan Airlines, and Beijing Capital Airlines restarted flights to North America, Europe, and South Asia this month, a month after the State Council urged carriers to increase domestic and international flights in an orderly manner, according to Chinese news outlet The Paper.
China’s installed capacity of electricity generation was about 2.42 billion kWh at the end of May, rising 7.9% from a year earlier, according to the National Energy Administration.
Chinese Prime Minister Li Keqiang said at a State Council meeting that China will include private investment projects in the government pool and step up support for the projects and he urged local authorities to protect legitimate interests of private investment and strictly fulfil policy promises, according to state broadcaster CCTV.
China’s capital city of Beijing strives to achieve more than 350 billion yuan in income from information content consumption, and 1 trillion yuan in live-streaming e-commerce turnover this year, according to a work plan released by the Beijing Municipal Bureau of Economy and Information Technology and the Beijing Municipal Commerce Bureau.
As China’s live hog production capacity has declined to some extend and pork consumption is expected gradually pick up in the second half of the year, live hog prices are expected to rebound, said the National Development and Reform Commission, the top economic planner.
China’s photovoltaic calendered glass industry saw production and prices grow rapidly in May, but there is a trend of high inventories and falling profits, showed data released by the Ministry of Industry and Information Technology.
China’s CPI will continue to operate within a reasonable range and the country is able to achieve its CPI growth target of around 3% for 2022, said the National Development and Reform Commission (NDRC), the top economic planner.
Shares of Chinese airlines and airport operators are trading higher on improving operational data. Shares of Spring Airlines up 3%, Juneyao Airlines and Air China up more than 2%, Guangzhou Baiyun International Airport, China Southern Airlines and Shanghai International Airport up 1%, China Eastern Airlines up 0.5%.
China’s holdings of US Treasuries tumbled in April to hit their lowest level since May 2010, as Treasury prices fell after Federal Reserve officials signaled sizable rate hikes to temper soaring inflation.
