MARKET
China introduces carbon transition bonds to help carbon reduction
China is introducing low carbon transition bonds to help companies cut emissions, in a bid to help the country achieve its carbon-peaking and carbon-neutrality goals.
Shanghai government to hold 20 roundtable discussions with foreign firms, already held two to facilitate production resumption
The Shanghai government will hold 20 roundtable discussions with foreign firms in key sectors such as integrated circuits, trade, and automobile manufacturing among others, in a bid to accelerate production resumption, local government-backed news outlet Xinmin Evening News.
Chinese cement producers continue to decline on expectation of weak market demand
Shares of Chinese cement producers continue to decline on expectation of weak demand. Conch Cement drops more than 5%, after slumping 8.3% in the previous trading day. China National Building Materials Group tumble over 5%, after sliding 10% in the previous trading day. China Resources Cement is down 2.7% and Asia Cement down 2.3%.
Shares of Macau casino operator trade higher on pickup in tourist numbers in holiday, expectations of further improvement
Shares of Macau casino operators are trading higher in Hong Kong on pickup in tourist numbers during holiday and the expectations of further improvement, with Sands China gaining 5.3%, WYNN Macau up 2.4%, MGM China up 2%, Galaxy Entertainment up 1.6%.
Tesla China hasn’t heard of layoff plans, still in large-scale recruitment – Chinese media
Tesla China has not heard of any news regarding layoff plans and until recently the EV maker had been conducting large-scale recruitment, according to Chinese news outlet Jiemian, citing sources close to the company.
Shares Chinese carmakers trade higher on improving car sales in May
Chinese carmakers trade higher on Monday boosted by improving car sales as China eases Covid-19 lockdown measures.
China’s lithium makers rally on expectation of higher demand amid business resumption
Shares of lithium miners and power battery producers stage a strong rally on expectation of stronger demand for lithium batteries and rising lithium prices in the second half of the year.
Chinese coal miners trade higher as Indonesia set benchmark coal price at record high
Chinese coal miners rally on Monday after Indonesia raised a benchmark thermal coal price. An index tracking mainland-listed coal miners, compiled by Wind Information, is gaining 1.6%.
Market Open Monday: A-shares flat, Hong Kong stocks open higher; yuan fixing strengthens 404 pips; 10 bn drained from market
Chinese A-share open largely flat on Monday, with the benchmark Shanghai Composite Index edging up 0.05%, the Shenzhen Component Index up 0.07%, and the Chinext Price Index edging down 0.09%.
China’s passenger trips slumped 40% on year in Dragon Boat Festival, tourism revenue down 13.2% from pre-pandemic level
China’s recorded 73.37 million railway, road, waterway and air passenger trips during the three-day Dragon Boat Festival holiday, slumping 40.3% from the same period last year and down 9.6% from the same period in 2020, said the Ministry of Transport.
