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China’s top securities regulator announced package of measures to boost Hong Kong market
Chinese securities regulator asked IPO applicants’ tutoring brokerages, key minorities to sign undertaking on application quality – reportÂ
Overseas investors more optimistic about Chinese market after regulatory initiatives – research
China’s copper futures in strong rally on supply risks, improving demand; Citi sees copper touch $10,500/t in next three months
BofA Securities raises China’s 2024 growth forecast to 5%, expecting manufacturing, infrastructure investment to remain resilient in coming months
China firmly opposes US investigation into maritime, logistics, shipbuilding industries
China’s determination to keep yuan’s stability to remain unchanged, said PBOC
China’s state planner NDRC to hold conference to promote faster project construction
US adds five companies in China to trade blacklist for allegedly supporting Russian military
The US President Joe Biden’s administration added five companies in China to a trade blacklist for allegedly supporting Russia’s military and defense industrial base.
Market Open Wednesday: Hong Kong stocks, A-shares open lower; tourism companies continue to rally; Yuan’s fixing cut by 105 pips; PBOC injects net 90 billion yuan
Hong Kong stocks open higher on Wednesday, with the benchmark Hang Seng Index sliding 1.3%, the Hang Seng China Enterprises Index down 1.9% and the Hang Seng Tech Index down 2.3%.
China to ban mainland investors from trading onshore shares via stock connect with Hong Kong
China will ban mainland investors from trading onshore shares via the stock connect scheme linking stock markets in Shanghai and Shenzhen with Hong Kong, in a move to crack down on “fake foreign capital.”
China and Hong Kong ETF Connect to kick off on July 4, initial list of 83 mainland-listed ETFs announced
The inclusion of exchange-traded funds (ETFs) in Stock Connects linking markets in mainland China with Hong Kong will kick off on July 4, according to a joint statement by the regulators of Hong Kong and the mainland on Tuesday, ahead of the July 1 anniversary celebrating 25 years of Hong Kong’s handover to the mainland.
Li Auto to sell up to $2 billion ADS in at-the-market stock offering
Chinese automaker Li Auto has filed to sell up to $2 billion in ADS, each representing two Class A ordinary shares, in an at-the-market stock offering program on Nasdaq, according to a press release on Tuesday.
Reopening of Shanghai Disneyland prompted surge in online travel searches
Searches for ‘Shanghai Disney’ on online travel service platform Qunar.com surged 380% immediately after Shanghai Disney Resort on Tuesday said it will reopen at the end of this month after a three-month shutdown due the Covid-19 outbreaks.
China’s base metals continue to rally led by tin on signs of economic recovery
China’s base metal futures continued to rally on Tuesday as China’s economy showed signs of recovering. The most-traded tin futures contract on the Shanghai Futures Exchange, for July delivery, surged by 8.5% to close at 221,860 yuan per tonne, after jumping nearly 5% in the previous trading day.
Chinese battery maker Gotion plans to locate one-third capacity outside China by 2025
Chinese battery maker Gotion High Tech Co said it plans to locate one-third of its production capacity outside China by 2025 to meet the growing demand from overseas electric vehicle (EV) makers and energy storage household clients.
China halves required quarantine time for overseas arrivals, marking biggest change to the rules since border closure in 2020
China on Tuesday announced changes to its pandemic control policy that will make it easier to enter the country.
Changan Auto surges by daily limit to hit record high after launching smart EV tech platform with Huawei, CATL
China’s Chongqing Changan Automobile surges by the daily limit of 10% to hit a new record high of 20.35 yuan per share in Shenzhen, bringing its market cap to nearly 200 billion yuan. Since the end of April, the stock has jumped by more than 200%.
LIVE: Trip.com shares trade lower in Hong Kong after reporting 989 million yuan net loss for first quarter
China’s largest online travel agency Trip.com is trading more than 2% lower in Hong Kong after the company reported a net loss of 989 million yuan ($147.79 million) for the first quarter of 2022.
Market Open Tuesday: Hong Kong stocks, A-share open lower; Yuan fixing cut by 80 pips; PBOC injects net 100 billion yuan via open market operations
Hong Kong stocks open lower on Tuesday, with the benchmark Hang Seng Index down 0.38%, the Hang Seng China Enterprises Index down 0.46% and the Hang Seng Tech Index down 0.89%.
China mulls extending yuan’s trading hours to attract global investors – report
China reportedly plans to extend the yuan’s trading hours to increase global investor participation in onshore currency trading as part of its internationalization push.
Shanghai’s transport, logistics basically returned to normal levels, said official
China’s financial and commercial hub of Shanghai has been accelerating resumption of transport and logistics after a two-month Covid lockdown was lifted on June 1 and the city’s highway, waterway, airway and railway transport volume has largely returned to normal levels before a COVID-19 outbreak hit two months ago, said an official from the Ministry of Transport on Monday.
China to maintain accommodative monetary policy to support economic recovery – PBOC governor Yi Gang
China’s monetary policy will continue to be accommodative to support economic recovery from, said Yi Gang, Governor of the People’s Bank of China, in an interview with the state broadcaster CGTN.
JD.com founder Richard Liu offloaded shares for over $932 million in past month
Richard Liu Qiangdong, Founder and Chairman of Chinese e-commerce giant JD.com Inc., has been offloading shares of the company over the past month, cashing in about …
China’s industrial profits fell at a slower pace in May, downstream industries saw profit improving
Profits at Chinese industrial companies declined at a slower pace in May as production and logistics gradually recovered after the Covid-19 outbreaks ease. Industrial companies’ …
Market Close Monday: Hong Kong stocks rallied, A-shares closed higher, catering and tourism companies led the gains
Hong Kong stocks rallied on Monday, with the benchmark Hang Seng Index up 2.35% to get back above 22,000 mark, the Hang Seng China Enterprises Index up 2.5% and the Hang Seng Tech Index surging 4.7% to jump above 5,000 mark.
Tencent set up Intelligent Automobile Cloud Zone in Shanghai to assist smart car manufacturing
Tencent announced the establishment of Intelligent Automobile Cloud Zone in Shanghai, the industry’s first proprietary cloud platform for autonomous and smart driving, the company said.Â
China’s top market regulator to conduct inspection on coal prices in next few months – state broadcaster
The State Administration of Market Regulation (SAMR), China’s top market regulator, issued a notice about launching inspections on coal prices across Chinese regions, according to state broadcaster CCTV.
Chinese smart energy solution provider Growatt files for Hong Kong IPO
Growatt, a Chinese smart energy solution provider, has applied for a listing on the main board of the Hong Kong Stock Exchange (HKEX).
Naspers to sell Tencent stocks, completed disposal of JD shares on June 24
Tencent Holdings’ shares slipped as much as 2.1% in the afternoon session on Monday, following more than 4% gains in the morning session, after the company said its main shareholder plans to sell its stocks.
Wuhan city unveils subsidies for NEV purchases, after similar moves by Beijing, Shanghai
The city of Wuhan, capital of central China’s Hubei province, has become the latest city to announce subsidies for new energy vehicle purchases, following similar moves by the financial hub of Shanghai and China’s capital city of Beijing.
Hong Kong exchange surges after CSRC announced official inclusion of ETFs into Stock Connect
Shares of the Hong Kong Exchanges and Clearing, the operator of the Hong Kong Stock Exchange, jumped as much as 6.3% to hit HK$398, marking the highest level in more than four months, bringing its market cap to nearly HK$500 billion.
China’s economic growth expected to reach 4.7% this year, below 5.5% target – PBOC advisor
China’s economic growth is expected to reach 4.7% this year, said Wang Yiming, an adviser to the monetary policy committee of the People’s Bank of China (PBOC).
Ganfeng Lithium surges by daily limit to hit 3-month high on firming demand, rising prices
Chinese lithium maker stage a rally on recovering demand and rising prices, with Ganfeng Lithium surging by the daily limit of 10% to hit 150.16 in Shenzhen, the highest level in three months, and its Hong Kong-listed shares are surging nearly 11%.
Market Open Monday: Hong Kong stocks, A-shares open higher; Yuan fixing firms 150 pips; PBOC injects net 90 billion yuan; commodities mixed
Hong Kong stocks open higher on Monday, with the benchmark Hang Seng Index up 1.2% to approach 22,000 mark, the Hang Seng China Enterprises Index up 1.1% and the Hang Seng Tech index up 1.3%.
China sees recovery in summer travel demand as inter-provincial travels restart, scenic sites reopens
China’s summer tourism is showing signs of recovery as major scenic spots reopen, most provinces allow inter-provincial travel, and many regions and attraction sites offer …
China’s capital Beijing to offer subsidies for NEV purchases to replace old cars
China’s capital city of Beijing is offering subsidies for purchases of new-energy vehicle to replace old cars, in a move to boost consumption and support the slowing economy.
China’s revised anti-monopoly law to take effect on August 1
China’s top legislative body on Friday voted to adopt amendments to the country’s Anti-Monopoly Law, and the revised law will take effect on August 1.Â
Troubled property developer China Aoyuan sells 49% of Australia unit
Troubled Chinese property developer China Aoyuan has agreed to sell a large stake in its Australia unit to an entity controlled by one of the subsidiary’s executives.
Chinese President Xi to visit Hong Kong for 25th anniversary of handover, his first known visit outside mainland China since Covid
Chinese President Xi Jinping will visit Hong Kong for the 25th anniversary of the city’s handover to China, state news agency Xinhua reported, which will …
China’s securities regulator releases draft rules for private pension investment
The China Securities Regulatory Commission (CSRC) proposed rules to regulate private pension investment via mutual funds, setting the criteria for qualified products and sales agents under its private pension scheme.
Beijing to allow primary, secondary schools to resume in-person classes, Shanghai declared victory over Covid
China’s capital city of Beijing said it would allow primary and secondary schools to resume in-person classes and Shanghai authority declared victory over COVID-19 after the city reported zero new local cases for the first time in two months.
Container shipping rates decline as recovery of exports weaker than expected
China’s Shanghai Export Containerized Freight Index compiled by the Shanghai Shipping Exchange has been falling in the recent month as the rebound of exports has been slower than expected.
Shares of Hong Kong Exchanges and Clearing hit 3-month high
Shares of the Hong Kong Exchanges and Clearing (HKEX), the operator of the Hong Kong Stock Exchange, gained as much as nearly 5% to hit HK$377, the highest level since the end of March, bringing its market cap to HK$476.2 billion yuan.
China’s iconic liquor maker Kweichow Moutai hit five-month high after announcing biggest cash dividends on record
Shares of Chinese iconic liquor maker Kweichow Moutai gained 2.7% to close at 2,009 yuan per share, the highest level since January 5 this year, after the liquor maker announced the largest cash dividends in its history.
Two coal industry associations call on coal companies to step up production
Two Chinese coal industry associations called on coal companies to step up production, make emergency supply guarantee plans, and “make every effort to ensure the …
Market Open Friday: Hong Kong stocks, A-shares open higher; Yuan fixing strengthens 79 pips; PBOC injects 50 billion yuan liquidity
Hong Kong stocks open higher on Friday, with the benchmark Hang Seng Index up 0.83%, the Hang Seng China Enterprises Index up 0.97% and the Hang Seng Tech Index up 1.5%.
Power demand in several Chinese regions hit record amid heatwaves, authorities call for more efforts to ensure coal supply
Electricity demand in northern, central and northwestern China hit record levels as millions turned on air conditioners to escape wide-spread heatwaves. The maximum electricity load …
Tesla China said to lay off 10% workforce, production not involved – report
Tesla China has started a layoff plan to cut about 10% of its workforce as part of the carmaker’s global layoff plan, but it doesn’t involve production-related positions, Chinese news outlet Sina Tech reported on Thursday, citing multiple people familiar with the matter.
China equities more attractive than other regions in second half – J.P.Morgan
JPMorgan said in a note that the case for Chinese equities will become more compelling in 2H22, compared to Asia’s emerging markets and the world as a whole.
Market Open Thursday: Hong Kong stocks, A-shares open higher, automakers rally on expectation of stimulus; yuan fixing strengthens 30 pips
Hong Kong stocks open higher on Thursday, with the benchmark Hang Seng Index up 0.71%, the Hang Seng China Enterprises Index up 0.85% and the Hang Seng Tech Index up 1.2%.