FINWIRES · TerminalLIVE
FINWIRES

China Shares Edge Up on Liquidity Signals; Shenzhen Jove Enterprise Surges 16%

By

Chinese shares rose on Friday as the country's central bank injected liquidity and amid a decline in fears over the U.S. Federal Reserve hiking rates.

The Shanghai Composite Index, the main gauge of Chinese stocks, ticked up 0.21 of a point to 3,927.18. The Shenzhen Component Index went up 0.5% to 14,354.31.

Investor sentiment was boosted by domestic liquidity signals, as the People's Bank of China conducted 349 billion yuan in overnight reverse repurchase agreements. The central bank will continue conducting overnight reverse repo operations from Aug. 17 until Aug. 19.

Also boosting investor sentiment were reduced concerns of a September rate hike by the U.S. Federal Reserve after the U.S. consumer price index rose 0.1% in July, within market expectations, CNBC reported.

In company news, Shenzhen Jove Enterprise (SHE:300814) posted first-half attributable net profit of 38.6 million yuan, up 130% from 16.8 million yuan the previous year. Shares of the printed circuit board manufacturer jumped 16% Friday.

Related Articles

Asia

Phoenix Silicon Earmarks Additional NT$4.82 Billion CAPEX Budget for 2026

Phoenix Silicon International (TPE:8028) board approved an additional NT$4.82 billion capital expenditure budget for 2026, according to a Thursday Taiwan Exchange filing.The increased spending will cover production equipment, plant facilities and construction projects.The capex is aimed at capacity deployment and will be funded through self-financing and capital-raising methods, the semiconductor wafer processing services provider said.

TPE:8028
Asia

Jereh Oilfield Services' H1 Profit Falls 4%, Revenue Rises 11%; Shares Up 5%

Yantai Jereh Oilfield Services' (SHE:002353) net profit attributable to shareholders for the first half fell 3.6% to 1.20 billion yuan from 1.24 billion yuan a year earlier, according to a Friday disclosure on the Shenzhen bourse.Earnings per share dropped 3.3% year on year to 1.18 yuan from 1.22 yuan.Operating revenue rose 11% to 7.65 billion yuan from 6.90 billion yuan in the previous year.The oil equipment manufacturing company's shares jumped 5% during the morning trade.

SHE:002353
Asia

US to Impose 100% Tariffs on Some Drones to Counter China

The U.S. government will impose a 100% tariff on imports of drones and their components, according to a fact sheet by the White House released Thursday.The tariffs could particularly hurt China, the world's largest drone maker, Bloomberg reported separately.The 100% rate will apply to drones with a maximum takeoff weight of more than 25 kilograms and with thermal imaging features, Washington said.The administration of President Donald Trump will also levy a 25% tariff on smaller unmanned aircraft that lack national security capabilities.Washington will also impose a 15% duty on drones and components made by the EU, Japan, Liechtenstein, South Korea, Switzerland, and Taiwan, and 10% for UK-made drones as long as their parts come from the U.S., the fact sheet showed.The tariffs will take effect 21 days after signing, while duties for non-critical drone parts will take effect after 180 days, the White House said.

^KOSDAQKOSPIShanghai Composite^SZSETaiwan Weighted