Hang Seng Tentative as Markets Monitor Encouraging Data & US AI Chip Restrictions
HKG33 is mixed as markets digest better than expected economic releases from China, BYD’s strong profit estimate and new export bans of AI chip for the US
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HKG33 is mixed as markets digest better than expected economic releases from China, BYD’s strong profit estimate and new export bans of AI chip for the US
HKG33 stays under pressure as today’s data from China showed non-existent consumer inflation for September, while markets continue to monitor developments around the troubled property sector
HKG33 falls to the lowest levels in nearly a year on fresh concerns around China’s troubled real estate market, as the Golden Week approaches
The BoJ did not change the ultra-accommodative stance and reiterated the commitment to continue with monetary easing, despite elevated inflation and recent hints towards normalization by its governor
After a constant stream of poor economic data, today’s releases offer a glimmer of hope around China’s faltering recovery, helping HKG33, along with new supporting actions by the central bank
USD/JPY dropped and the 10-year bond yield rose after Bank of Japan Governor Ueda pointed towards an eventual exit form negative interest rates
FXCM’s CHN50 basket offers some suggestion of contrarian price action.
Watch today’s US Open for insights on the US data dump, another poor PMI from China and continued fears around the property market and more
HKG33 falls today as China’s factory activity contracted for fifth straight month and troubled property developer Country Garden warned of default, after massive H1 loss
Chinese stock markets jumped after authorities announced measures to boost capital markets, including a cut in the stamp duty on stock trades
HKG33 is having a bad month with new 2023 lows, but finds support today, helped from the strong quarterly results of Chinese tech giant Baidu
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