Chinese stocks saw a modest open on Monday, buoyed by an expanding current account surplus and continued growth in broad money supply, even as credit data showed signs of moderation.
The Shanghai Composite Index, the main gauge of Chinese stocks, opened 0.1% higher to 3,930.10. The Shenzhen Component Index edged up 0.3% to 14,399.20.
China's current account surplus widened to $195.1 billion in the second quarter, up from $184.3 billion in Q1.
Meanwhile, broad M2 money supply grew 7.7% year over year to 355.5 trillion yuan as of the end of July. While the reading signaled sustained monetary expansion, it came in softer than the 8% growth recorded in June and fell short of the 7.9% consensus forecast tracked by Investing.com.
However, China's total social financing, a broad measure of credit and liquidity in the economy, fell to 1.41 trillion yuan in July from 3.36 trillion yuan in June.