Sino-U.S. Tariff Reprieve Spurs Surge in Chinese Port Stocks
China and Hong Kong stocks ended flat following weak industrial and retail sales data. Notably, Chinese port operators saw a surge in shares due to the Sino-U.S. tariff reprieve, boosting expectations of increased shipments. However, overall market rally showed signs of slowing down despite positive movements in specific sectors.
On Monday, stock indices in China and Hong Kong exhibited minimal movement due to lackluster industrial and retail sales data in China, highlighting persistent economic challenges.
The Sino-U.S. tariff reprieve provided a lift to Chinese port operators, with stocks such as Lianyungang Port and Ningbo Port reaching their daily upward limit, as investors anticipated a surge in shipments during the 90-day pause.
However, the broader market rally appeared to be losing momentum, with China’s CSI300 dipping 0.3% and the Shanghai Composite Index showing little change, amidst investor caution advised by Guosheng Securities.
(With inputs from agencies.)
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