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Asian tech rally drives mild gains as U.S.-China summit pressures Beijing shares

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Asian tech rally drives mild gains as U.S.-China summit pressures Beijing shares

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Asian stocks saw mild gains on Thursday, supported by technology and chipmaking stocks, while Chinese shares fell ahead of a U.S.-China summit in Beijing. The Shanghai Shenzhen CSI 300 and Shanghai Composite indexes dropped 0.8% and 0.7%, respectively, after reaching multi-year highs. The summit between U.S. President Trump and Chinese President Xi is expected to address trade tariffs and AI. Broader Asian markets gained slightly, with South Korea's KOSPI and Japan's Nikkei 225 both rising 0.2%. However, concerns over the Iran war and its inflationary impact lingered, affecting other markets.

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Asia stocks mildly higher on tech; Chinese shares fall ahead of Trump-Xi summit

China's consumer and factory gate prices rose in April, driven by surging energy prices due to fluctuations in international oil prices. The consumer price index (CPI) increased by 1.2% year-on-year, while the producer price index (PPI) surged by 2.8%. Energy prices climbed 5.7%, with gasoline prices up 12.6%. Despite rising prices, food prices fell by 1.6%. Analysts suggest that the CPI and PPI may continue to rise in the coming months, indicating a shift in macroeconomic policy focus towards price stabilization.

- In April, China's consumer and producer prices rose year-on-year, driven by fluctuations in international oil prices and corresponding increases in domestic energy costs.  
- The consumer price index (CPI) increased by 1.2% compared to last year, while the producer price index (PPI) saw a substantial rise of 2.8%, mainly influenced by the energy and chemical sectors.  
- Analysts predict a continued upward trend for both CPI and PPI in the coming months, with the expectation that ongoing global oil price volatility may impact future economic policies.

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China’s Consumer, Factory Gate Prices Rise in April Amid Surging Energy Prices

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The trading volume of the Shanghai and Shenzhen stock markets has surpassed 3 trillion yuan for the fourth consecutive trading day. According to Odaily, this marks a continued high level of activity in these markets.

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Shanghai and Shenzhen Markets See Trading Volume Exceed 3 Trillion Yuan for Fourth Consecutive Day

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China has now dropped tariffs on imports from every African country except 1

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China has now dropped tariffs on imports from every African country except 1

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China's factory activity expanded for the second consecutive month in April, with the manufacturing PMI at 50.3, indicating growth despite rising risks from the Iran conflict. New export orders reached a two-year high, but concerns over higher energy prices may impact future orders. The overall new orders sub-index fell, highlighting stronger overseas demand compared to domestic markets. While GDP growth was solid at 5% year-on-year, domestic consumption remains weak, prompting calls for enhanced energy security and responses to external challenges. The non-manufacturing PMI dropped to 49.4, indicating pressure on domestic demand.

- In April, China's manufacturing activity expanded for the second consecutive month, driven by increased production and high export orders amid concerns over Middle East conflicts affecting costs.  
- The official manufacturing Purchasing Managers' Index (PMI) slightly decreased to 50.3, indicating growth despite rising energy prices that could suppress new orders.  
- Experts warn that ongoing external risks from the Middle East may pressure global demand, crucial for China's growth as domestic consumption remains weak.

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China's factory activity extends expansion, PMI shows, as Iran war risks mount

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Moody's has revised China's economic outlook to 'stable' from 'negative', highlighting the country's resilient economic and fiscal strength despite domestic pressures and geopolitical challenges. The agency anticipates a moderation in export growth, but believes China's competitiveness will mitigate the slowdown, resulting in a gradual easing of GDP growth.

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Moody's flags resilience in China economy, moves outlook to 'stable'

China's central bank, the PBOC, has injected 9.5 billion yuan into the banking system, surprising traders amid already abundant liquidity. This move aims to support low funding costs and smooth government financing, potentially extending the ongoing bond rally. The bond market has seen significant gains, with futures on 10-year government debt rising for eight consecutive days. The PBOC's actions come ahead of a major government bond sale, with expectations that the bond rally may continue as funds shift towards longer-dated bonds.

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PBOC injects cash despite flush liquidity, fuelling bond rally

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The Shanghai Municipal Government will hold a press conference on April 21 to introduce progress on building a strong city in intellectual property and accelerating the development of new quality productive forces. Heads of relevant departments will attend and answer reporters' questions

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Preview: Shanghai Municipal Government to Hold Press Conference Tomorrow on Advancing the Construction of a Strong City in Intellectual Property and Accelerating the Development of New Quality Productive Forces

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In the first quarter of this year, China's enterprise credit index reached 162.05, reflecting a steady and positive trend. The top five sectors by ranking were finance, education, electricity, heat, gas, water production and supply, manufacturing, and water conservancy, environment, and public facility management. Notably, the electricity, heat, gas, water production and supply sector, finance, and health and social work sectors showed significant increases in their credit indices, with three consecutive months of positive growth indicating strengthening credit resilience

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China Enterprise Credit Index Stands at 162.05 in Q1, Maintaining a Steady and Positive Trend

China Universal CSI 300 Index Initiating Fund(LOF)-C(501045.SH)

Asian tech rally drives mild gains as U.S.-China summit pressures Beijing shares

Asia stocks mildly higher on tech; Chinese shares fall ahead of Trump-Xi summit

China’s Consumer, Factory Gate Prices Rise in April Amid Surging Energy Prices

Shanghai and Shenzhen Markets See Trading Volume Exceed 3 Trillion Yuan for Fourth Consecutive Day

China has now dropped tariffs on imports from every African country except 1