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Asia

Market Chatter: China to Launch Digital Payment Platform

China is preparing to launch its mBridge digital currency platform, which could reduce Beijing's reliance on the dollar and connect its Belt and Road partners, the Financial Times reported Monday, citing people familiar with the matter.An entity based in Hong Kong will supervise the platform's operations, backed by the central banks of China, Hong Kong, Thailand, the United Arab Emirates and Saudi Arabia, according to the newspaper.Preparations are still underway, but there is still no exact launch date, the FT said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSE
Asia

Fitch Affirms China's Long-Term Issuer Default Rating at A

Fitch affirmed China's long-term issuer default rating at A as the country's economy shows growth potential in its transition toward its new growth drivers.The outlook on the rating is stable, according to a Monday note.The ratings reflect the country's resilient GDP outlook, improved price dynamics, and an expected "slightly contractionary" fiscal policy, among others.China is recovering from deflation, while its fiscal deficit is narrowing to about 7.3% of GDP in 2026 from 7.6% in 2025, Fitch said. Meanwhile, government debt is seen to reach nearly 80% of GDP by 2028, higher than the median of 58.6% for its A-rated peers.

Shanghai Composite^SZSE
International

Asia Week Ahead: Central Bank Decisions; Inflation; and Trade

The week ahead in Asia will be packed with a number of central bank decisions and macroeconomic data, with investors set to track the impact of the Middle East conflict on regional economies.The economic calendar starts quietly on Monday with services activity data from Japan, whole inflation figures from India and New Zealand's services PMI.Activity picks up Tuesday as the Reserve Bank of Australia and Bank of Japan announce policy decisions, while China releases a batch of closely watched activity indicators.Wednesday shifts the focus to trade, with Japan and Singapore due to report May figures.Thursday brings a cluster of central bank decisions from Taiwan, Indonesia and the Philippines, with New Zealand's first-quarter GDP and Thailand's trade data also on deck.Friday rounds out the week with inflation data from Japan and Malaysia, with New Zealand reporting trade numbers.Here's what to watch in the week ahead.MONDAY, June 14The week was off to a relatively light start with a handful of releases from India, New Zealand, and Japan.Japan released its tertiary industry activity index for April, a measure of change in the total value of services provided and consumed by the country's service sector.The index rose a seasonally adjusted 1.3% month on month, reversing from a 0.6% decline in the prior month and recording its first increase in three months.It also beat the Trading Economics forecast of a 0.5% increase.In New Zealand, the BusinessNZ Performance of Services Index fell to 47.5 in May from a downwardly revised 48.7 in April, marking a fourth straight month of contraction in the services sector. Trading Economics said the decline came as the Iran war weighed on business activity.India's annual wholesale price index (WPI)-based inflation rate rose to 9.68% year over year in May. The reading was higher than the consensus forecast of 9.10% tracked by Investing.com and compared with an 8.26% pace recorded in the prior month.Later Monday, India reports unemployment stats for May.TUESDAY, June 16Macro activity picks up Tuesday with central bank decisions scheduled in Australia and Japan, and a slew of monthly data from China.The Reserve Bank of Australia is expected to hold the official cash rate steady at 4.35%, according to a Trading Economics consensus.Economists at National Australia Bank said the latest decision would mark the end of the tightening cycle, with the next move likely down and now expected in the second quarter of 2027.In contrast, the Bank of Japan is forecasted to raise interest rates by 25 basis points to 1%, according to a Trading Economics consensus estimate.Bloomberg reported earlier June that the central bank was considering raising the policy rate amid high uncertainties over the Middle East conflict. Officials were expected to sift through as much data as possible until the last minute before making a final decision, though the decision to raise rates was unlikely to be unanimous, according to the report.China's industrial production and retail sales stats will also be in the news, alongside monthly unemployment and housing price data.Markets will review the figures to gauge how well the country's economy is faring amid the Middle East conflict. According to the Wall Street Journal, the data is likely to indicate overall improvement and economic resilience despite the macro headwinds.Hong Kong will report unemployment data the same day, while trade stats will be in focus in India and South Korea.In New Zealand, markets will await food inflation data which is expected to show "modest increases," according to CommBank.WEDNESDAY, June 17Focus shifts Wednesday to trade data from Singapore and Japan.Japan is expected to record a trade deficit of 564.6 billion yen in May, reversing from a 301.9 billion yen surplus a month earlier, according to a Trading Economics consensus.Wednesday will also bring the Reuters Tankan Index for June, a key gauge of Japanese business confidence, along with monthly machinery orders data.Meanwhile, Singapore's trade surplus is expected to narrow to $7 billion in May from $13.07 billion in April, according to Trading Economics. The city-state is also due to release monthly non-oil export data.A forward-looking report from Westpac capturing consumer confidence in New Zealand is also scheduled for Wednesday.THURSDAY, June 18Central banks across Taiwan, Indonesia and The Philippines will meet for interest rate decisions Thursday.Bank Indonesia will be in focus after it unexpectedly raised interest rates by 25 basis points earlier this month to support the rupiah.While some economists expect the central bank to deliver another 25 basis point hike, ING expects Bank Indonesia to hold rates steady and instead prioritize alternative measures to attract foreign capital inflows and stabilize the currency.The Philippines' central bank, Bangko Sentral ng Pilipinas, is widely expected to raise its benchmark rate by 25 basis points to 4.75% amid persistent inflationary pressure, according to a Trading Economics consensus.Meanwhile, Taiwan's central bank is expected to hold rates steady at 2%. ING said it will be monitoring the Central Bank of the Republic of China's press conference for clues on a possible rate hike in the third quarter.Elsewhere, New Zealand will report its first quarter gross domestic product growth rate. CommBank said it expects quarterly growth to reach 0.8%, shy of the Reserve Bank of New Zealand's 1% forecast.While the economy started 2026 with a decent moment, there will be "pockets of weakness" highlighting that economic recovery was a "bit patchy," CommBank said in a preview.Lastly, Thursday will feature Thailand's trade figures for May.FRIDAY, June 19The week rounds off with closely watched inflation data from Japan.According to ING, May's consumer prices could record a rise of 1.6% year on year, accelerating marginally from 1.4% in April. The subdued increase would reflect government measures, though price pressures are likely to broaden, ING said.Malaysia's headline inflation, also due the same day, is similarly expected to show a marginal rise to 2% year-on-year in May from 1.9% in April due to government fuel subsidies and stable food prices, the Wall Street Journal reported, citing DBS.Malaysia will additionally report monthly trade figures on Friday, while Macao will release monthly inflation data the same day.Trade figures from New Zealand will also feature Friday. According to a Trading Economics consensus, New Zealand's May trade surplus could narrow to NZ$875 million from NZ$1.92 billion a month earlier.South Korea's producer price inflation will also be among the highlights of the day.

ASX 200^BSEHang Seng^JKSEFTSE Bursa Malaysia KLCIKOSPINikkei 225Nifty 50^NZ50^PSEIM^SETShanghai Composite^STI^SZSETaiwan Weighted
International

China Expects to Reach $20 Billion Bilateral Trade Target With Mongolia

China expects to reach its bilateral trade target of $20 billion with Mongolia this year, according to a Saturday press release from the Ministry of Foreign Affairs.This was one of the topics discussed during the meeting between Mongolian President Ukhnaagiin Khurelsukh and Chinese Foreign Minister Wang Yi in Ulaanbaatar.The ministry said Mongolia affirmed its adherence to the One China principle and agreed that Taiwan is an inseparable part of China.Mongolia assured that it will "not do anything to harm China's interests because of its relations with other countries", according to the ministry statement.

Shanghai Composite^SZSE
Asia

US-Iran Peace Deal Boosts Chinese Shares; Guangxi Energy Jumps 6%

Chinese shares ended Monday's session with gains, buoyed by an improvement in global investor sentiment following the announcement of a peace agreement between the U.S. and Iran.The Shanghai Composite Index, the main gauge of Chinese stocks, rose 1.6% to 4,096.47. The Shenzhen Component Index surged 3.8% to 15,531.11.According to Pakistani Prime Minister Shehbaz Sharif, whose country is acting as a neutral intermediary, both Washington and Tehran have declared an "immediate and permanent cessation" of military activities across all fronts, including Lebanon. The official signing ceremony is scheduled for June 19."The development is supporting equities and AI-led equity optimism remains intact," Reuters cited Wee Khoon Chong, APAC Macro Strategist at BNY, as saying.Meanwhile, China's Commerce Ministry expressed "strong dissatisfaction and firm opposition" to the U.S. government's inclusion of several large Chinese firms in a list of entities aiding the Asian country's military.Beijing called on Washington to stop its "erroneous practices" and provide non-discriminatory treatment to Chinese firms.In company news, Guangxi Energy (SHA:600310) plans to acquire 33.7% of Guangxi Guangtou Qiaogong Energy Development for 1.05 billion yuan. Shares of the electricity service provider closed 6% higher Monday.

Shanghai Composite^SZSE
Asia

Beijing Slams US for 'Military' Designation of Large Chinese Firms

China's Commerce Ministry expressed "strong dissatisfaction and firm opposition" to the U.S. government's action to include several large Chinese firms on a list of those aiding its military, it said Saturday.The statements come after the U.S. Defense Department named Chinese companies such as Alibaba (HKG:9988), Baidu (HKG:9888), and BYD (HKG:1211, SHE:002594), and Nio (HKG:9866, SGX:NIO) as supporters of the People's Liberation Army.Beijing called on Washington to stop its "erroneous practices" and provide non-discriminatory treatment to Chinese firms.

Shanghai Composite^SZSEHKG:1211HKG:9866HKG:9888HKG:9988SGX:NIOSHE:002594
Asia

China to Classify, Grade Financial Information Services

China issued regulations that will classify and grade financial information service data for information service companies within the country, the Cyberspace Administration of China said Friday.The data will be classified according to business, user, and enterprise data categories and graded according to core, important, sensitive general, and general levels, the administrator said.Beijing's new guidelines will help financial information companies manage increasing volumes of data in accordance with Chinese data security laws, the CAC said.

Shanghai Composite^SZSE
Asia

Chinese Shares Rise at Open on US-Iran Peace Deal

Chinese shares opened higher on Monday as global sentiment improved following news that the US and Iran reached a peace deal.The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.5% to 4,053.58. The Shenzhen Component Index climbed 1.3% to 15,153.18.Both the US and Iran declared the "immediate and permanent termination" of military operations on all fronts, including in Lebanon, according to Pakistan Prime Minister Shehbaz Sharif. Pakistan is acting as the neutral mediator.The agreement was finalized even after an Israeli strike on Lebanon on Sunday that provoked condemnation from both Iran and US President Donald Trump.Mediators will conduct a series of meetings this week, with the preliminary discussions paving the way for the official signing ceremony on June 19, Sharif said.

Shanghai Composite^SZSE
China Threatens Retaliation After Pentagon Adds Alibaba, Baidu, BYD to Military Blacklist
US Markets

China Threatens Retaliation After Pentagon Adds Alibaba, Baidu, BYD to Military Blacklist

China's Ministry of Commerce on Saturday threatened to retaliate after the US Defense Department added a number of Chinese companies, including Alibaba (HKG:9988), Baidu (HKG:9888) and BYD (HKG:1211, SHE:002594), to its list of firms it deems linked with the Chinese military."China will resolutely and forcefully retaliate, and the US will bear full responsibility for the consequences," a spokesperson for the Ministry of Commerce said over the weekend, adding that "China expresses its strong dissatisfaction and firm opposition" to the designations.The Pentagon published its updated Section 1260H list on June 8, which supersedes an earlier version from January 2025. The updated roster now also includes electric-vehicle maker Nio (HKG:9866), pharmaceutical research and manufacturing services provider WuXi AppTec (HKG:2359, SHA:603259), AI robotics company Robosense Technology (HKG:2498), and Unitree Robotics, which is currently pursuing an initial public offering in Shanghai. Nvidia recently said it plans to collaborate with Unitree to build robots.The list also names telcos China Mobile (HKG:0941, SHA:600941), China Telecom (HKG:0728, SHA:601728), and China Unicom (HKG:0762), as well as chipmaker Semiconductor Manufacturing International (HKG:0981, SHA:688981), Huawei Technologies, Contemporary Amperex Technology (SHE:300750, HKG:3750) and Tencent (HKG:0700), most of which were added in January.The June update also reinstated ChangXin Memory Technologies and Yangtze Memory Technologies on the list after they were withdrawn from the February version. Both companies are among China's leading memory chipmakers and are currently pursuing public listings.As the Pentagon noted, being on the list means an entity is identified as a contributor to China's "Military-Civil Fusion strategy," supporting the modernization goals of the People's Liberation Army "by ensuring it can acquire advanced technologies and expertise developed by PRC companies, universities, and research programs that appear to be civilian entities."While these Chinese companies face no formal sanctions under the list, the Pentagon is prohibited from entering into, renewing or extending contracts with them or acquiring their products starting June 30, 2026.Several newly listed companies pushed back, with Alibaba saying it is "not a Chinese military company nor part of any military-civil fusion strategy." The company warned that it will take "all available legal action against attempts to misrepresent the company."Baidu said there was "no justification" for its inclusion, adding that it does not expect the designation to impact its business.BYD, which recently toppled Tesla as the world's top electric vehicle seller, echoed Alibaba and Baidu's statements, adding that the move will not impact its business.Meanwhile, analysts from Jefferies said the update was largely anticipated, noting that an earlier version of the list had briefly appeared in February before being withdrawn without explanation.Jefferies also noted on June 9 that while the Defense Department is prohibited from procurement of goods and services from entities in the list, "it does not restrict US citizens from engaging in trading activity with the listed companies."In a separate Jefferies note on June 9, analysts from the bank said 10 companies were removed from the list, including, most notably, CNOOC (HKG:0883, SHA:600938)."The immediate implication for companies on the 1260H list is that they are prohibited from providing any goods or services to the US military directly or via contractors. We believe the final decision-maker is the US president," said Jefferies."President Trump has just concluded his China trip, and, in our view, the US-China relationship is moving in an incrementally positive direction. In our view, President Trump is largely occupied with Iran, the high oil price (thus higher inflation risk), and the upcoming mid-term election, implying there will be less motivation for the US to escalate geopolitical tension with China."

Shanghai Composite^SZSEHKG:0700HKG:0728HKG:0762HKG:0883HKG:0941HKG:0981HKG:1211HKG:2359HKG:2498HKG:3750HKG:9866HKG:9888HKG:9988SHA:600938SHA:600941SHA:601728SHA:603259SHA:688981SHE:002594SHE:300750
Asia

Market Chatter: CXMT Secures Approval for 29.5 Billion Yuan Shanghai IPO

China's securities regulator approved the initial public offering registration of dynamic random-access memory chipmaker CXMT Corp, Xinhua News Agency reported Friday.CXMT plans to raise 29.5 billion yuan through a listing on Shanghai's STAR Market, which would rank as the second-largest listing of the STAR Market and the largest on China's A-share market this year.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSE
Asia

US, Iran Reach Peace Agreement, Formal Signing Due Friday

U.S. and Iranian officials have confirmed a peace agreement to end the war and reopen the Strait of Hormuz, with a formal pact expected to be signed in Switzerland on Friday.U.S. President Donald Trump said in a post on Truth Social that the agreement with Iran was "complete" and authorized the immediate lifting of the U.S. naval blockade.Separately, Iran's Deputy Foreign Minister Kazem Gharibabadi confirmed that an agreement had been reached to end the conflict, according to multiple media reports.Pakistan Prime Minister Shehbaz Sharif, who mediated the negotiations, said in a post on X that the peace accord would be signed on Friday, June 19.Sharif added that both sides had agreed to an immediate and permanent cessation of military operations across all fronts, including in Lebanon.

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International

China's Total Social Financing Accelerates to 2.03 Trillion Yuan in May

China's total social financing (TSF), a broad measure of credit and liquidity in the economy, expanded to 2.03 trillion yuan in May from 620 billion yuan in the previous month, according to data from the People's Bank of China (PBOC) released on Friday.The reading beat the consensus forecast of 1.87 trillion yuan tracked by Investing.com.Outstanding TSF growth slowed to 7.7% year over year at the end of May, totaling 458.81 trillion yuan. The slowdown was due to a drop in outstanding foreign currency loans to the real economy and outstanding undiscounted bank acceptance bills.

Shanghai Composite^SZSE
International

China's Outstanding Yuan Loans Grow at Softer Pace in May

China's outstanding yuan loans grew 5.5% year over year at the end of May to 281.02 trillion yuan, according to data from the People's Bank of China (PBOC) released on Friday.The pace of expansion was softer than the 5.6% growth recorded in the previous month. The latest print was in line with the consensus forecast tracked by Investing.com.The outstanding balance of yuan and foreign currency loans at the end of May rose 5.4% year over year to 284.79 trillion yuan, also slowing from the 5.5% increase in April.

Shanghai Composite^SZSE
International

China's Broad Money Supply Growth Steady in May

China's broad M2 money supply grew 8.6% year over year to 353.7 trillion yuan as of the end of May, according to data from the People's Bank of China (PBOC) released on Friday.The pace of expansion was unchanged from the growth recorded in April. It was also in line with the consensus forecast tracked by Investing.com.Meanwhile, narrow money supply (M1) rose 5.5% at the end of May to 114.89 trillion yuan, faster than the 5% increase in April. Currency in circulation (M0) stood at 14.69 trillion yuan, up 11.9% year over year, slowing from the 12.2% growth in the previous month.

Shanghai Composite^SZSE
International

China's New Yuan Loans Return to Growth to 520 Billion Yuan in May

China's banks extended 520 billion yuan in new yuan loans in May, according to data from the People's Bank of China (PBOC) released on Friday.The monthly credit expansion beat the consensus forecast of 550 billion yuan tracked by Investing.com, and recovered from the 10 billion yuan drop in new loans recorded in April.For the first five months of 2026, new yuan loans in China totaled 9.11 trillion yuan, boosted by higher loans to enterprises and institutions.

Shanghai Composite^SZSE
Asia

Market Chatter: China Central Bank Instructs State-Owned Lenders to Temper Interbank Lending

The People's Bank of China told state-owned banking giants to slash their borrowings from the interbank market to prevent a plummet in interest rates to below the policy rate, Bloomberg reported Friday, citing people familiar with the matter.China's central bank issued what is known as "window guidance" during times of volatility or when they want to manage the speed of credit extension, according to Bloomberg.Beijing's instruction is seen to help banks to temper market expectations around access to liquidity, as well as manage the speed of credit extension amid global energy shocks, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSE
Asia

China Shares Up on US-Iran Peace Deal Hopes; Dcenti Auto-Parts Jumps 10%

Chinese shares rose on Friday amid rising market optimism stemming from a potential peace agreement between the U.S. and Iran.The Shanghai Composite Index, the main gauge of Chinese stocks, rose 1.1% to 4,031.51. The Shenzhen Component Index climbed 0.8% to 14,963.41.U.S. President Donald Trump backed away from earlier military threats against Iran, claiming a peace deal is imminent. He said Supreme Leader Mojtaba Khamenei has approved a plan to be finalized within days, opening the door to nuclear talks.However, Iran dismissed the claims. The country's foreign ministry spokesperson said no final decision has been made, calling reports of an agreement "merely speculation."In regulatory news, the central banks of China and Indonesia agreed to explore expanding the size of their bilateral currency swap arrangement, as well as reaffirmed their commitment to increasing the use of local currencies in bilateral transactions.On the economic front, the World Bank trimmed its 2026 growth forecast for China to 4.2% on lower domestic demand and consumer confidence. The June reading is 0.2 of a percentage point lower than the 4.4% growth forecast in January.In company news, Guangdong Dcenti Auto-Parts (SHA:603335) plans to transfer a 108,079-square-meter industrial plot to the Taishan Land Development and Reserve Center for 107.7 million yuan. Shares of the auto parts maker surged 10% Friday.

Shanghai Composite^SZSESHA:603335
Asia

Market Chatter: Japanese Industry Group Calls for Clarity on China's Export Controls

The Japanese Chamber of Commerce and Industry in China has requested greater transparency in China's export controls on dual-use items, saying these have affected the supply of rare earths, Nikkei Asia reported Thursday.Japanese companies have seen tighter rare-earth supply following stricter export restrictions imposed by China amid diplomatic tensions between the two countries, the report cited Tetsuro Homma, head of the group, as saying.The controls have even affected items "purely for civilian purposes," the report cited the group as saying.The measures include a ban on exports of items for both civilian and military use to 20 Japanese defense-linked entities, with 20 other Japanese companies and organizations included in a watchlist, the report said.Meanwhile, the Chinese Commerce Ministry said the export controls are specific to only a few Japanese entities, with no impact on normal exchanges between the two nations, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Nikkei 225Shanghai Composite^SZSE
Asia

Market Chatter: China's Dreame Technology Explores Hong Kong Listing

Chinese robot appliance maker Dreame Technology is considering a Hong Kong listing that could raise several hundred million dollars, Bloomberg reported Friday, citing people familiar with the matter.The firm has hired advisers for the potential listing, though deliberations are ongoing and details may change, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hang SengShanghai Composite^SZSE
International

World Bank Trims 2026 Growth Forecast for China to 4.2%

The World Bank trimmed its 2026 forecast for China to 4.2% on lower domestic demand and consumer confidence, according to a report released Thursday.The reading in June is 0.2 percentage points lower than the 4.4% growth forecast in January.The multilateral lender also attributed the downward forecast to continued property sector adjustment and a decline in the labor force.

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