Shenzhen Composite Index

Shanghai Composite^SZSEHKG:0700HKG:3750SHE:300750

Market Chatter: DeepSeek Raises 50 Billion Yuan in Funding Round

DeepSeek raised more than 50 billion yuan in its first funding round, Reuters reported Tuesday, citing The Information.The funding round required investors to pour capital into a limited partnership managed by CEO Liang Wenfeng ⁠rather than into DeepSeek itself, helping preserve founder control, the report said.Investors would be subject to a five-year lock-up period and will not have voting rights, while China's National Artificial Intelligence Industry Investment Fund will be the exception with voting rights and exemption from the lock-up, Reuters said.Liang invested 20 billion yuan of his own money into the funding round, while Tencent (HKG:0700) was considering 10 billion yuan and CATL (SHE:300750, HKG:3750) was contemplating about 5 billion yuan, according to a previous Reuters 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.)

Market Chatter: Chinese Oil Refiners' May Output Plunges to Lowest Since August 2022

Chinese oil refiners slashed their output by 9.1% to 53.7 million tons in May, the lowest since August 2022 after oil imports fell to an eight-year low due to the impact of the war in the Middle East, Bloomberg reported Tuesday.As output falls, Chinese refining activity is also expected to slide by 5% in 2026, the report said, citing GL Consulting.Meanwhile, aluminum production jumped 1.7% to a record 3.9 million tons in May as the country took advantage of a decline in output in the Middle East, the report said.Coal also slipped 1.7% to 397.2 million tons amid a coal disaster in Shanxi, which forced producers to trim output, Bloomberg 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^SZSESHE:301217

China Shares See Mixed Trade Amid Weak Economic Data; Tongguan Copper Foil Up 5%

Chinese shares saw mixed trade on Tuesday as weak economic data weighed down earlier optimism from the U.S.-Iran peace deal.The Shanghai Composite Index, the main gauge of Chinese stocks, declined 0.1% to 4,091.89. The Shenzhen Component Index climbed 0.9% to 15,675.25.New home prices in China's 70 major cities decreased by 3.5% year over year in May, according to Trading Economics' calculation of data from the National Bureau of Statistics. The reading steadied from the 3.5% contraction recorded in the previous month, and was sharper than the Trading Economics forecast of a 3.4% drop.China's retail sales of consumer goods fell 0.6% year over year to 4.109 trillion yuan in May, reversing the 0.2% increase recorded in April. Last month's drop was also steeper than the consensus forecast for a 0.3% decline.Also, the country's fixed asset investment fell 4.1% year over year in the first five months of the year. The reading compared with the declines of 1.6% recorded in the January-April period and 2.3% consensus forecast tracked by Investing.com.In company news, Anhui Tongguan Copper Foil (SHE:301217) will close three fundraising investment projects and permanently transfer 383.0 million yuan in surplus funds to working capital. Shares of the copper foil producer closed 5% higher Tuesday.

Shanghai Composite^SZSEHKG:0700

Market Chatter: Enflame Tech Gets Nod for Shanghai IPO

Shanghai Enflame Technology obtained approval for an initial public offering on the Shanghai Stock Exchange's STAR board, according to Bloomberg News on Monday, citing a prospectus from the company.The chipmaker, which is backed by Tencent (HKG:0700), plans to raise up to 6 billion yuan from the IPO, according to the report.Proceeds from the IPO will be used for the development and production of artificial intelligence cloud chips, 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.)

US Markets96d ago

China Retail, Investment Fall to Post-Pandemic Lows Despite Industrial Output Strength

Chinese retail sales, fixed-asset and real estate investment fell to levels only seen since the COVID-19 pandemic even as tensions in the Middle East have de-escalated.Retail sales fell 0.6% year over year to 4.109 trillion yuan in May, according to data from the National Bureau of Statistics released Tuesday.The May reading reversed the 0.2% increase recorded in April. It missed the consensus forecast for a flat movement as tracked by Investing.com.The decline was the first since China reopened from strict COVID-19 lockdowns in late 2022, when retail sales plunged 11.1% in April of that year, Bloomberg reported separately Tuesday.Consumer confidence remained soft while stimulus also stayed small, which could have led to dismal retail sales, ING Chief Economist for Greater China Lynn Song said in a note.Fixed-asset investment fell 4.1% year over year in the first five months of the year, sharper than the 1.6% decline seen in the January-April period and the deepest since the 3.8% decline for the whole of 2025.It also missed a forecast of a 2.3% decline as tracked by Investing.com.In contrast, China's industrial production grew 4.5% year over year in May, higher than the 4.1% expansion recorded in April and beat the consensus forecast of a 4.4% growth tracked by Investing.comBy sector, manufacturing output edged up 4.4%, mining grew 2.3%, and utilities climbed 7.6%.On a monthly basis, industrial output rose 0.4%.From January to May, the value added of industries above the designated size increased by 5.4% year on year.Industrial production for sectors usually helped by real estate, such as cement, steel, and glass, saw falls of 8.1%, 2.8%, and 6.3%, the NBS said.The fall in these sectors also echoes the plunge in real estate investments to 16.2% year over year in the first five months, faster than the 13.7% decline in the first four months.New home prices in China's 70 major cities decreased by 3.5% year over year in May, according to calculations of NBS data by Trading Economics."It remains too early to confidently call a bottom for the property market, as prices continue to decline, and inventory levels remain high," Song said.China's industrial energy production was mixed in May, with raw coal and natural gas output falling year over year, while crude oil and electricity output were up.Raw coal production slipped 1.7% year over year to 400 million tons, compared with a 1% decrease in the previous month.Crude oil output edged up 0.5% year over year to 18.6 million tons, while natural gas production decreased 2.2% to 21.7 billion cubic meters.Electricity output rose 4.2% to 784.3 billion kilowatt-hours, sharper than the 2.6% increase in April.Unemployment fell to 5.1% in May, lower than the consensus of 5.2% tracked by Investing.com and also lower than the 5.2% slide in April.

China's Industrial Energy Production Mixed in May

China's industrial energy production was mixed in May, with raw coal and natural gas output falling year over year, while crude oil and electricity output were up, according to data from the National Bureau of Statistics on Tuesday.Raw coal production slipped 1.7% year over year to 400 million tons, compared with a 1% increase in the previous month.Crude oil output rose 0.5% year over year to 18.6 million tons, while natural gas production decreased 2.2% to 21.7 billion cubic meters.Electricity output rose 4.2% to 784.3 billion kilowatt-hours, sharper than the 2.6% increase in April.

China's Fixed Asset Investments Fall 4.1% in May

China's fixed asset investment fell 4.1% year over year in the first five months of the year, according to data from the National Bureau of Statistics on Tuesday.The reading compared with the 1.6% drop recorded in the January-April period. The latest print was softer than the consensus forecast of a 2.3% decline tracked by Investing.com.Investment in infrastructure grew 0.6% year over year, while manufacturing sector investment fell 0.4%. Meanwhile, property development investment slipped 16.2% during the period.

China's Industrial Production Growth Quickens to 4.5% in May

China's industrial production grew 4.5% year over year in May, according to data from the National Bureau of Statistics released on Tuesday.The reading was higher than the 4.1% expansion recorded in the previous month. It beat the consensus forecast of a 4.3% growth tracked by Trading Economics.By sector, manufacturing output edged up 4.4%, mining grew 2.3%, and the production and supply of electricity, thermal power, gas, and water climbed 7.6%.On a month-over-month basis, industrial output rose 0.4%.From January to May, the value added of industries above the designated size increased by 5.4% year on year year compared with a 5.6% year-on-year rise in the January to April period.

China's Real Estate Investments Decline 16.2% in May

Property investments in China fell 16.2% year over year in the first five months of the year, according to data from the National Bureau of Statistics on Tuesday.The drop was faster than the 13.7% fall recorded in the four months ended April.Commercial building sales by floor area dropped 10.8% year over year, while new construction starts plummeted 22.6%.Funds available to property developers fell 19% from a year earlier to 3.28 trillion yuan, highlighting ongoing liquidity pressures in the sector.

China's Surveyed Urban Unemployment Rate Shrinks to 5.1% in May

China's surveyed urban unemployment rate fell to 5.1% in May, according to data from the National Bureau of Statistics on Tuesday.The reading was lower than the consensus forecast of 5.2% tracked by Investing.com, and compared with the 5.2% rate recorded in the previous month.The surveyed unemployment rate in 31 major cities stood at 5.1%, falling from 5.2% the prior month.Meanwhile, the average working hours per employee in May were 48.2 hours per week, up marginally from 48 hours the previous month.

China's New Home Prices Drop 3.5% in May

New home prices in China's 70 major cities decreased by 3.5% year over year in May, according to Trading Economics' calculation of data from the National Bureau of Statistics on Tuesday.The reading steadied from the 3.5% contraction recorded in the previous month, and was sharper than the Trading Economics forecast of a 3.4% drop.On a month-over-month basis, average new home prices edged down 0.10%, softer than the 0.2% drop the previous month.

ASX 200^BSE^DSE^HNX^HOSEHang Seng^JKSEFTSE Bursa Malaysia KLCI^KOSDAQKOSPINikkei 225Nifty 50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted^YSX

International97d ago

IMF Sees Global Economy Holding Up Amid Middle East Conflict

The global economy has remained resilient despite the Middle East conflict, supported by strong growth in the U.S. and China, though energy importers remain vulnerable, according to a Monday blog by IMF Managing Director Kristalina Georgieva.Oil prices remain about 30% above pre-war levels, contributing to higher inflation in many economies.However, inflation expectations have generally remained anchored, while financial markets have held up and global financial conditions remain accommodative, Georgieva said.She said investment in artificial intelligence and data centers continues to support growth, particularly in the U.S. and parts of Asia, helping offset the impact of higher energy costs.The IMF warned that countries heavily reliant on energy imports, especially in Africa and parts of Asia, face mounting pressure from higher fuel, food, and financing costs.The fund said policymakers should maintain price stability and fiscal discipline while remaining prepared to respond to prolonged disruptions.

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.)

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.

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International97d ago

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.

International97d ago

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.

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^SZSEHKG:1211HKG:9866HKG:9888HKG:9988SGX:NIOSHE:002594

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.

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.

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.