Home Stock & Shares China stocks flat as factory data offsets profit-booking

China stocks flat as factory data offsets profit-booking

by Jonathan Adams
blue-chip index

China’s blue-chip index was up 0.12%, while the Shanghai Composite index was up 0.04%

China stocks were little changed on Tuesday, as strong factory data reflecting a bounce-back in its economy from the coronavirus crisis offset profit-booking among consumer and agricultural shares.

China’s factory activity expanded at the fastest clip in nearly a decade in August, bolstered by the first increase in new export orders this year, the Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) showed.

At the midday break, the Shanghai Composite index was up 0.04% at 3,397.17.

China’s blue-chip CSI300 index was up 0.12%. Financials, consumer staples, real estate, and healthcare shares were down between 0.09% and 1.12%.

On Monday, the CSI 300 Consumer Staples Index rose to a record high of 33,349 and the China Mainland Agriculture Index also scaled a peak of 8,825.

Chinese H-shares listed in Hong Kong rose 0.4% to 10,031.63, while the Hang Seng Index was down 0.02% at 25,171.55. The smaller Shenzhen index was up 0.18%, the start-up board ChiNext Composite index was higher by 0.35% and Shanghai’s tech-focused STAR50 index was up 0.32%​.

Defence-related stocks in China surged after fresh conflict reignited between Chinese and Indian troops at the border of both countries.

Among individual names, OFILM Group tumbled by their 10% daily trade limit to 17.02 yuan ($2.49), their lowest since June 29, on report that the company has been removed from Apple’s supply-chain list.

Around the region, MSCI’s Asia ex-Japan stock index was weaker by 1.26%, while Japan’s Nikkei index was down 0.07%.

The yuan was quoted at 6.8208 per U.S. dollar, 0.4% firmer than the previous close of 6.8483.

Important
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Related News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Know more