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The profits of 5,000 companies on the mainland’s three exchanges dropped 3.7 per cent in the three months that ended in September, China Merchants Securities said.
Home sales by China’s 22 key property developers jumped 66 per cent from a month earlier in October.
Investors shrug off China manufacturing report, look to possible stimulus from legislative meeting and outcome of US election next week.
Investors gear up for National People’s Congress Standing Committee meeting next week.
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Investors expect China’s legislators to inject stimulus to propel a rally that has already added trillions to markets on the mainland and Hong Kong.
HSBC rose to six-year high after quarterly profit beat analysts’ estimates, helping lift Hang Seng Index in longest winning streak in four weeks.
Goldman Sachs analyst: ‘We expect more fiscal easing and believe it holds the key for the effectiveness of the ongoing stimulus package’.
Zhang Kun of E Fund Management sees high returns, dividends in technology and consumer stocks.
‘We believe China homebuyers’ confidence in the property market has improved markedly,’ analyst says.
Chinese stocks go from unloved during the pandemic to ‘attractive’ and ‘compelling’ after Beijing’s surprise stimulus bazooka.
China Unicom, Xinyi Solar and HKEX lead gainers as an analyst calls the rebound ‘sustainable’.
Li Auto and Geely gain on stronger-than-expected EV sales, while Ping An Insurance drops after quarterly results missed estimates.
Firms waste no time answering Beijing’s call to use a relending facility designed to bolster the stock market.
The Hang Seng Index fell 1.6 per cent to 20,478.46 at the close, adding to a 2.1 per cent decline over the past week.
Twenty-one banks to extend loans for stock buy-backs and stake hikes as the part of the 300 billion yuan scheme unveiled late last month.
Investors anticipate increased government spending and bond issuances to achieve the 5 per cent growth target.
The Hang Seng Index has erased about a third of the more than 30 per cent gains made since mid-September.
Chinese developers surge in advance of housing ministry briefing, while Hong Kong property stocks rise on policy to raise borrowing limit.
Investors are hoping that clues about Chinese government borrowing will buoy stocks in Hong Kong and on the mainland.
Hang Seng Index slumped 3.7 per cent to 20,318.79 for a second day of losses.
Finance minister Lan Fo’an said China plans to sell more debt to help lessen local-government risks.
Profit-taking and retail investor frenzy are driving the swings in China’s onshore markets, raising concerns about a potential market correction.
Investors expect Finance Minister Lan Foan to unveil a fiscal package that could include government bond sales and subsidies to boost consumption.
The Chinese central bank’s liquidity boosting tool sparks a 3 per cent surge in Hong Kong’s Hang Seng Index.
At least 15 ETFs linked to the ChiNext benchmark of small companies on the Shenzhen exchange issued warnings to investors within the first hour of trading today.
Hang Seng Index slipped 1.4 per cent, adding to its 9.4 per cent plunge on Tuesday, while the CSI 300 Index of onshore stocks sank 7.1 per cent.
Individual investors from China have scurried back to buy risky shares, but historically, wild swings in sentiment have foreshadowed plunges.
Trading volume hit an all-time high in Hong Kong, erasing Friday’s record; combined turnover in Shanghai and Shenzhen reached an unprecedented level.
US money manager Invesco, citing hopes of higher government spending, predicts a 20 per cent gain – on top of this week’s rise.
Shares of New World Development surged after resuming trading following the replacement of its CEO, as the property developer seeks a revamp.
