Shenzhen Composite Index

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Tight Supply to Anchor Asia-Pacific Aluminum Producers' Margins, Fitch Says

Asia-Pacific's aluminum smelters should maintain robust margins amid higher metal prices due to a narrower supply of global primary aluminum, Fitch Ratings said in a recent release.The rating agency expects low-cost firms in China, India, and Indonesia to gain the most due to controlled cost inflation amid their integrated raw material framework and relatively steady power costs.Aluminum prices have increased about 20% since the start of the Middle East conflict, leading to tighter global primary aluminum supply.Fitch believes Asia-Pacific smelters that can retain output and control costs will see a boost in earnings and cash flow under rising aluminum prices.The region's producers are less exposed to imported gas and spot raw material volatility, giving them clearer advantages compared to global peers, Fitch said.

Shanghai Composite^SZSEHKG:3996SHA:601668SHA:601669SHA:601868

Transition Gaps Drive Credit Divide Among Chinese E&C Companies, Fitch Says

The increasing pace of transition among Chinese engineering and construction (E&C) companies is a main driver of widening credit differentiation in the sector, Fitch Ratings said in a recent release.Fitch expects contractors that diversified into renewable energy, power, and industrial projects to shield their margins amid subdued demand for traditional projects.Meanwhile, companies reliant on residential housing and conventional infrastructure could observe slower contract momentum, fast EBITDA drops, and increasing leverage, the rating agency said.Leaders such as China State Construction Engineering (SHA:601668) have notably reduced their residential housing exposure to about 15% last year from 35% in 2021, while power-focused peers like Power Construction Corp. of China (SHA:601669) and China Energy Engineering (HKG:3996, SHA:601868) posted strong margins and EBITDA, according to Fitch.High capital expenditure kept free cash flow (FCF) negative for most issuers last year, despite improved working capital management, Fitch said.Leverage continues to be a pressure point for E&C companies' standalone credit profiles, with retained negative FCF weighing on EBITDA gross and net leverage, the rating agency said.

Shanghai Composite^SZSESHE:000725

Chinese Shares Down Amid Widening Inflation Split; BOE Technology Falls 7%

Chinese shares were down on Wednesday as the country's inflation split widened, with producer prices outpacing consumer prices.The Shanghai Composite Index, the main gauge of Chinese stocks, slid 0.4% to 3,993.23. The Shenzhen Component Index plunged 2.1% to 14,954.10.China's annual producer inflation accelerated to 3.9% in May. This was in line with the consensus forecast, but faster than the 2.8% recorded in April.In contrast, annual consumer inflation stalled, remaining steady at 1.2%. This was lower than the consensus forecast of 1.3% and unchanged from the pace recorded in April.Core inflation, which excludes volatile food and energy prices, rose 1.1% year over year, easing from 1.2% in April.The widening gap between producer and consumer prices suggests manufacturers' ongoing difficulties in passing higher input costs downstream and thus suffering from margin compression, Bloomberg News cited Serena Zhou, senior China economist at Mizuho Securities.In company news, BOE Technology (SHE:000725) controlling subsidiary BOE Energy Technology plans to terminate its application for a public issuance of shares and listing on the Beijing Stock Exchange. Shares of the electronics components producer closed 7% lower Wednesday.

US Markets102d ago

China's Consumer Inflation Stalls in May, as Factory-Gate Inflation Surges to Four-Year High

China's inflation data for May showed a disparity in the economy, with factory-gate prices surging to a nearly four-year high due to the global tech and AI boom, while consumer prices remained flat amid weak domestic spending.Consumer prices rose 1.2% year over year in May, remaining steady from the previous month, though lower than the 1.3% consensus forecast tracked by Investing.com.According to the National Bureau of Statistics on Wednesday, food, tobacco, alcohol and restaurant prices slipped 0.9% during the month, dragged down by pork prices which plunged 16.1%.In contrast, gasoline prices increased 23.5% year over year.O a month-on-month basis, consumer prices were down 0.1%, reversing the 0.3% growth the previous month.Core inflation, which excludes volatile food and energy prices, rose 1.1% year over year, easing from 1.2% in April.Meanwhile, China's factory-gate inflation showed a different picture as annual producer inflation accelerated to 3.9% in May, hitting its highest level in nearly four years.The latest print was in line with the consensus forecast of 3.9%, tracked by Investing.com, and compared with 2.8% recorded in the previous month.On a month-over-month basis, China's producer price index rose 0.5%, easing from the 1.7% increase between March and April.The prices of means of production jumped 5.2% year over year, with mining producer prices surging 15.8%, while that of the raw materials sector increased 9.2% and processing grew 2.3%.Fuel and power producer prices increased 10%, while that of non-ferrous materials soared 22% and chemical raw materials grew 11.8%.Ex-factory prices of non-ferrous metal mining and beneficiation or raw material treatment increased 36.5%."Accelerated electrification, deep integration of artificial intelligence with various fields, and increased demand for computing power also drove up prices in non-ferrous metals, electrical machinery, and computer-related industries," NBS statistician Dong Lijuan said in a statement.ING Think's Greater China Chief Economist Lynn Song said the latest data suggested that "the reflation trend is solidifying.""We're not expecting major momentum on this front this year," said Song. "This is especially the case as we still see elevated youth unemployment numbers, and many workers are more concerned about keeping their jobs amid AI advancements."

Market Chatter: Kuwait Petroleum Puts Up Oil for Sale for Asian Buyers

Kuwait's state-owned Kuwait Petroleum Corp. is seeking buyers for at least 4 billion barrels of the nation's main export grade crude in signs that flows from the critical Strait of Hormuz are opening up, Bloomberg News reported Tuesday, citing traders familiar with the matter.The oil is reportedly being offered to refiners in at least China and South Korea and is carried on two very large crude carriers that have already exited the waterway and can promptly dock in ports in Asia.The offer adds to evidence that a closure in the Hormuz is easing, though oil shipments from the region are yet to reach pre-war levels, 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^SZSEHKG:0728HKG:0941SHA:600941SHA:601728

Market Chatter: China Finalizing 2 Trillion Yuan Plan to Build AI Data Centers

The Chinese government is finalizing plans to invest 2 trillion yuan for the construction of AI data centers across the country over the next five years, Bloomberg reported Tuesday, citing people familiar with the matter.The plan could see China Mobile (HKG:0941, SHA:600941) and China Telecom (HKG:0728, SHA:601728) operate the network of inter-connected computing hubs across the country, the report said.The blueprint also calls on the supply of 80% of technology for the data centers from local vendors, including Huawei Technologies.(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.)

International102d ago

China's Factory-Gate Inflation Accelerates to 3.9% in May

China's annual producer inflation accelerated to 3.9% in May, according to data from the National Bureau of Statistics (NBS) released on Wednesday.The reading was in line with the consensus forecast of 3.9%, tracked by Investing.com, and compared with 2.8% recorded in the previous month.On a month-over-month basis, China's producer price index rose 0.5%, easing from the 1.7% increase between March and April.

International102d ago

China's Consumer Inflation Steady at 1.2% in May

China's annual consumer inflation remained steady at 1.2% in May, according to data from the National Bureau of Statistics (NBS) on Wednesday.The reading was lower than the consensus forecast of 1.3%, and was in line with the 1.2% pace recorded in the previous month.Core inflation, which excludes volatile food and energy prices, rose 1.1% year over year, easing from 1.2% in April.

Market Chatter: China's Coking Coal Futures Log Biggest Intraday Drop Since August 2025

Coking coal futures in Dalian hit their daily down limit, tumbling 6.2% to 1,340.50 yuan a ton, the biggest intraday drop since August 2025, Bloomberg News reported on Wednesday.The decline followed a report that Shaanxi authorities issued a notice urging miners to maintain a stable supply through the summer peak demand period, the newswire said.Prices had rallied to near two-year highs after a deadly accident in neighboring Shanxi last month raised safety and supply concerns, the publication said.According to Mysteel data, around 70 mines in Shanxi with a capacity of 85 million tons have since resumed production, while 65 mines remain suspended, 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^SZSEHKG:0728HKG:0941SHA:600941SHA:601728

Asia103d ago

Market Chatter: China Earmarks 2 Trillion Yuan in Nationwide AI Push

The Chinese government is set to spend 2 trillion yuan over the next five years to build artificial intelligence data centers, Bloomberg reported Tuesday, citing people familiar with the matter.The National Development and Reform Commission will set up interconnected hubs across China, while state-owned telcos China Mobile (HKG:0941, SHA:600941) and China Telecom (HKG:0728, SHA:601728) will operate the data centers, according to Bloomberg.China will then get its AI chips from local suppliers such as Huawei, according to Bloomberg.The plan is seen to be China's most aggressive effort for AI aimed at surpassing U.S. technology, according to the newswire.National Development and Reform Commission, China Mobile and China Telecom did not immediately respond to' request for comments.(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.)

Asia103d ago

Chinese Shares Rise as Trade Surplus Exceeds Expectations; Hangzhou Gold Electronic Equipment Soars 625% in Shenzhen Debut

Chinese shares rose on Tuesday as the country's trade surplus outpaced consensus forecasts.The Shanghai Composite Index, the main gauge of Chinese stocks, rose 1.3% to 4,010.03. The Shenzhen Component Index jumped 3.0% to 15,268.72.China's trade surplus expanded to $105.4 billion in May from $84.8 billion in April, higher than the consensus forecast of $88.7 billion tracked by Investing.com.Exports rose 19.4% year over year to $376.8 billion last month, exceeding the consensus forecast for a 15% growth and April's 14.1% expansion.Imports increased 27.4% to $271.3 billion, faster than the 25.3% jump in April and the consensus forecast for a 25% rise.In company news, Hangzhou Gold Electronic Equipment (SHE:301669) shares jumped 625% versus their initial public offering price of 7.08 yuan per share on their first day of trading on the Shenzhen bourse.

Shanghai Composite^SZSESHE:301669

US Markets103d ago

China Trade Surplus Expands to Four-Month High as AI Boom Drives Exports

China's May trade surplus expanded to its highest level since January, driven by an artificial intelligence boom that offset the economic fallout from the war in Iran.Trade surplus grew to $105.4 billion in May from $84.8 billion in April, according to data from the General Administration of Customs released Tuesday.The reading was higher than the consensus forecast of $88.7 billion tracked by Investing.com.Exports rose 19.4% year over year to $376.8 billion, beating the consensus forecast for a 15% growth and exceeding April's 14.1% expansion.The surge in exports reflects continued support from AI-related hardware demand, as well as some front-loading of overseas orders in the midst of geopolitical uncertainties, Bloomberg reported, citing Guotai Junan International Holdings Chief Economist Hao Zhou.Computers and parts exports jumped 66% year over year in May, the fastest increase since 2010, and accelerating from a 47% rise in the previous month, according to the report.Integrated circuit exports soared 111%.Imports increased 27.4% to $271.3 billion, faster than the 25.3% jump in April. The consensus forecast was for a 25% rise.The jump in imports came as companies are also stocking foreign chips and equipment, Bloomberg said. Chinese imports of South Korean semiconductors surged more than 200% in May, according to the news outlet."For now, China's import growth remains mainly a tech story rather than an energy story, as evidenced by the surge in imports from Korea," ING Think's Greater China Chief Economist Lynn Song wrote.For the first five months, the trade surplus reached $451.7 billion, led by exports of $1.713 trillion and imports of $1.262 trillion during the period."A higher-than-expected surplus could help support growth in 2Q26, but year-to-date the surplus is still down around -3.8% YoY," Song added.

International103d ago

China's Trade Surplus Widens to $105 Billion in May

China's trade surplus expanded to $105.4 billion in May from $84.8 billion in April, according to data from the General Administration of Customs released Tuesday.The reading was higher than the consensus forecast of $88.7 billion tracked by Investing.com.Exports rose 19.4% year over year to $376.8 billion, hitting the consensus forecast for a 15% growth and exceeding April's 14.1% expansion.Imports increased 27.4% to $271.3 billion, faster than the 25.3% jump in April. The consensus forecast was for a 25% rise.

International103d ago

China's Car Sales Slump 22.3% in May

China's car sales dropped for the eighth straight month in May, posting a 22.3% year-on-year decline to 1.5 million vehicles, Reuters reported Monday, citing data from the China Passenger Car Association.Sales between January and May fell 19.7% to 7.2 million units, according to the media outlet.The decline reflected the impact of the oil price hikes brought by the Middle East conflict, according to the CPCA's secretary general, Cui Dongshu, the report said.The association said sales for the entire year were forecasted to dip 11%, wider than the predicted 1% decline, according to Reuters.

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International104d ago

Asia Week Ahead: Inflation Prints; GDP Estimates; and Trade Balance

For the week ahead in Asia, inflation, trade and growth data will be in focus as investors assess the region's economic momentum.The week opens with Japan's revised first-quarter GDP figures, followed by trade data from China and Taiwan on Tuesday.Mid-week, China's consumer and producer inflation reports will dominate headlines, while Japan will release producer price data.Thursday will be led by unemployment figures from South Korea and Malaysia, before Friday brings India's inflation report.Here's what to watch in the week ahead.MONDAY, June 8The week was off to a relatively light, but notable start with Japan's first-quarter GDP growth rate.Japan's economy expanded at an annualized rate of 1.8% in the first quarter, according to final data released by the Cabinet Office. The reading was revised down from the preliminary estimate of 2.1% growth, but exceeded the market consensus forecast for a 1.3% increase, according to Trading Economics.The data comes as attention turns to the Bank of Japan's June 15-16 policy meeting, where policymakers are expected to consider another interest-rate increase. The growth figures are unlikely to derail expectations for further policy tightening.TUESDAY, June 9Data readouts will pick up Tuesday, starting with China's trade figures for May.Economists at ING said they expect China's exports to rise 19.5% year-on year and imports to gain 36.4% for a trade surplus of $86.5 billion. The surplus would be an increase from the $84.8 billion recorded in April, thanks in part to higher tech prices, which are boosting both export and import prices, ING said.Taiwan will similarly report trade figures, with ING expecting the island nation's trade surplus to rise to $15.5 billion from $14.4 billion in April. "Strong export orders from previous months suggest external demand remains robust amid the AI boom," ING said in a preview.Markets will be watching for any revisions to South Korea's first-quarter GDP growth rate when the Bank of Korea releases its final estimate on Tuesday.The central bank's advance estimate indicated that South Korea's real GDP increased 3.6% annually and 1.7% on a quarterly basis.In Australia, a pair of reports will capture business and consumer sentiment, while in the Philippines, unemployment stats will be due.Other key data scheduled for the day include Japan's machine tool orders.WEDNESDAY, June 10China's consumer and producer price inflation will dominate headlines Wednesday.Consumer prices are expected to show an uptick of 1.3% year on year in May from 1.2% a month prior, reflecting higher manufacturers' input and output prices due to the Middle East conflict, the Wall Street Journal reported.Japan will similarly report its May producer prices, with analysts expecting the PPI to accelerate to 5.5% year on year from 4.9% in April, according to a Trading Economics consensus.Indonesia will release its May consumer confidence report on the same day.THURSDAY, June 11Unemployment data from South Korea and Malaysia will be the highlight of the day.According to Trading Economics, South Korea's unemployment rate could remain unchanged at 2.80% in May. The platform similarly forecasted that Malaysia's unemployment would remain steady at 2.90%, a level it has held since November 2025.A forward-looking report on consumer inflation expectations will be due in Australia. According to Trading Economics, consumer inflation expectations could rise to 6.5% for June from the 5.6% estimated in May.Meanwhile, Indonesia will report its retail sales stats for April.FRIDAY, June 12India's May inflation data will be in the news Friday.Economists at ING said they expect consumer prices to pick up to 3.9% year on year from the 3.48% recorded in the month prior due to a rise in gasoline prices. Still, the figure would be below the Reserve Bank of India's 4% target."The key risk to the outlook lies in potential second-round effects on food inflation. Fertiliser shortages, alongside the rising probability of an El Niño event, could exert upward pressure on food prices in the coming months and warrant close monitoring," ING said in a preview.Friday will also feature industrial production reports from Japan, Malaysia, and Hong Kong, with Malaysia additionally reporting its retail sales stats for April.In Thailand, the consumer confidence report for May will be due.On the activity front, the Business NZ manufacturing purchasing managers' index report will be due in New Zealand. CommBank said it expects manufacturing activity in May to stabilize, or even lift somewhat, given a decline in fuel prices over late April and May.The Business NZ PMI previously dropped to 50.5 in April from 52.8 in March.

Shanghai Composite^SZSESHA:000688SHE:002340SHE:399339

China Shares Fall Amid Tech Selloff; GEM Down 5%

Chinese shares decline amid a selloff in technology stock following the recent release of strong U.S. jobs data.The Shanghai Composite Index, the main gauge of Chinese stocks, fell 1.7% to 3,959.34. The Shenzhen Component Index plunged 3.2% to 14,821.19.Fears of a rate hike by the U.S. Federal Reserve after strong U.S. jobs data triggered a selloff in technology stocks. According to CME FedWatch, markets are pricing in a 76% chance as of June 8 that the Fed will raise rates in December, up from 53.6% chance a week ago.The SSE Star 50 Index (SHA:000688) and the SZSE Technology Index (SHE:399339), which track the performance of the 50 largest and most liquid technology and innovation-focused companies listed on their respective bourses, were both down about 4%."Such a sharp decline is quite unexpected ... but it's more likely a short-term adjustment after such longtime discussions over tech bubbles," City News Service cited Deng Yichao, an analyst with Chinalin Securities, as saying.In company news, GEM (SHE:002340) signed an agreement with Ningbo Eastern Institute of Technology to jointly establish a solid-state battery cathode material joint laboratory. Shares of the waste resource comprehensive utilization company closed 5% lower Monday.

^BSENifty 50Shanghai Composite^SZSESHA:601615

UK Defends Bilateral Talks With China in Three-Day Asia Trip

U.K. Foreign Secretary Yvette Cooper defended their meeting with China, which is part of a three-day trip in Asia that included a visit to India."China is the second largest economy and like the U.K. is a permanent member of the UN Security Council. We must engage for the U.K.'s security and prosperity in line with British values," Cooper said in social media platform X.Cooper met with Foreign Minister Wang Yi to discuss issues such as the reopening of the Strait of Hormuz and the war in Ukraine, as well as the Ebola virus.Prime Minister Keir Starmer's government started to seek rekindling bilateral ties with Beijing with a visit to China in January, but tensions still remain, according to Nikkei Asia on Monday.The U.K. barred wind turbine manufacturer Ming Yang Smart Energy (SHA:601615) from constructing a factory in Scotland in March. Later in April, the government seized the ownership of British Steel from Chinese steelmaker Jingye Group, the report said.Sibylline's chief analyst, Sam Olsen, said the U.K. government is making a "pragmatic engagement" with Beijing but both sides are not defining the relationship in the same way. Meanwhile, China Strategic Risks Institute's Sam Goodman said the U.K. and China should have a relationship "built on reciprocity", which will require China to rebalance trade and open its market, as well as cease overcapacity, according to the media outlet.Meanwhile, Cooper met with Indian Prime Minister Narendra Modi to deepen relations under the India-U.K. Vision 2035 framework, which includes technology, defense, education and climate in its scope, Nikkei Asia said.

Market Chatter: European Party Leader Calls for Tougher EU Trade Policy on China

Manfred Weber, leader of the European People's Party in the European Parliament, urged the European Union to adopt a stricter trade stance toward China, arguing that Beijing's manufacturing dominance poses growing risks to Europe's economy, Bild am Sonntag reported Sunday.Speaking to the newspaper, Weber said the EU can no longer afford to be complacent and must safeguard its economic interests, according to the report.He pointed to the bloc's daily trade imbalance with China, estimated at nearly 1 billion euros, warning that it threatens European industries and employment, Bild am Sonntag wrote.Weber said failure to act could severely weaken key sectors of Europe's economy, 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.)

Shanghai Composite^SZSESHE:300001

China's First Prefabricated Computing Power Hub Begins Operations

China's first prefabricated computing power hub started operations on Saturday, state-owned CCTV reported Sunday.The facility, located in Qingdao, Shandong province, offers a more efficient and greener way to supply electricity to data centers, the report said.The power facility reduces carbon footprint by more than 30% and cuts cost by up to 20%, according to the report.Each piece of equipment is powered by three different sources, allowing it to withstand power fluctuations in the extrenal grid, CCTV said, citing Qingdao TGOOD Electric (SHE:300001) CEO Zhou Jun.

Market Chatter: CSRC Says Offshore Accounts Safe, No Forced Liquidation

China's securities regulator said its crackdown on illegal cross-border securities trading will not lead to forced closure of mainlanders' offshore accounts or mandatory asset liquidation, Reuters reported Monday.In response to investor fears over $54 billion in assets, the China Securities Regulatory Commission said asset safety will not be affected by the rectification campaign. Existing accounts will remain open and holdings will not be forcibly cleaned up, according to the report.Mainland investors can still sell assets and withdraw funds from affected accounts, Reuters cited the CSRC as saying. However, overseas brokers must terminate illicit onshore services, including websites and trading software, within two years.(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.)