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Chinese stocks fell into bear-market territory on Thursday after a record 10-week losing streak, as disappointing corporate earnings and fading expectations of government stimulus deepened the sell-off. The CSI 300 index dropped roughly 20% from its June peak, crossing the conventional threshold for a bear market.
China's gasoline and diesel inventories have fallen to their lowest levels in more than a decade as exports surge and domestic demand recovers seasonally, according to GL Consulting.
China kept its benchmark lending rates unchanged for the 16th straight month on Sunday, in line with market expectations.
The Hang Seng Index has outperformed its major Asian peers this year, even as the Kospi and Nikkei 225 have come under pressure. The index has rebounded nearly 14% from its lowest level this year, while the Nikkei 225 and Kospi have fallen about 15% and 40%, respectively, from their year-highs.
Chinese regulators are considering tightening export controls on AI and semiconductor technologies, the Financial Times reported on Tuesday.
China can stabilise economic growth this year by accelerating already-budgeted national infrastructure investment projects, economists and one government adviser said, reducing the likelihood of large-scale fiscal stimulus.
China's onshore technology IPOs are on track for their strongest year since 2023 as Beijing seeks to bolster listings of chip and artificial intelligence companies in a push for tech self-reliance amid the country's rivalry with the U.S.
I have closed my short position in the Direxion Daily FTSE China Bull 3x ETF and am now neutral on the fund. Despite China's relative undervaluation and improved macro backdrop, YINN's leveraged structure poses significant long-term risks. Chinese equities continue to have value trap risk, as many listed firms don't return much cash to shareholders.