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Trading amid mixed May data from China, including faster industrial production growth but falling fixed-asset investment and retail sales.
New home prices in China's 70 major cities decreased 3.3% year over year in June, according to Trading Economics' calculation of data from the National Bureau of Statistics on Wednesday.The latest print was softer than the 3.5% decrease recorded in the previous month and against the Trading Economics forecast of a 3.4% drop.
Chinese artificial intelligence startup DeepSeek is laying the groundwork for an initial public offering in 2027, Bloomberg News reported, citing people familiar with the matter.The Hangzhou-based company is targeting a mainland China listing and aims to submit its listing application as early as this year, according to the report.It has also reportedly begun discussions with investment banks and accounting firms to prepare for the offering.Separately, DeepSeek is looking to secure additional private capital shortly after completing a record $7 billion fundraising. The company is in discussions with prospective investors for a new funding round targeting a pre-money valuation of at least 480 billion yuan, 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.)
China's trade surplus, in terms of renminbi, grew 16.9% year on year in the first half to 25.5 trillion yuan, according to Tuesday's data from the General Administration of Customs.Exports rose 13.4% year on year to 14.7 trillion yuan, while imports climbed 22.1% to 10.7 trillion yuan.
China's smartphone shipments for the second half of the year fell 4.3% year on year to 66 million units as prices increased, according to Tuesday data from research firm IDC.The number of smartphone shipments declined for the fifth consecutive quarter.The research firm said consumers were hesitant to upgrade their units as vendors raised their prices or trimmed configurations due to the increase in memory and core component costs starting from late March. The lift from government subsidies also faded.Among brands, Huawei led the local market share in the second quarter, owning 22.6% of the market share and its shipments growing 19.4% year on year. Apple followed suit, owning 18.1% of the domestic market share, and its shipments climbing 24.4% from a year earlier.However, both brands kept their prices steady while their competitors increased their prices, according to the IDC."That gave hesitant buyers a reason to go ahead and purchase in a quarter when most of the market was giving them a reason to wait," Arthur Guo, research analyst at IDC China's client devices research, said.
Chinese shares rebounded at the close of Tuesday's session as the country targeted 60 trillion yuan in retail sales by 2030.The Shanghai Composite Index, the main gauge of Chinese stocks, closed 1.4% higher at 3,967.13. The Shenzhen Component Index jumped 2.8% to 14,924.87.China has unveiled a government plan to expand total retail sales of consumer goods to about 60 trillion yuan by 2030, strengthening consumption's role as a key economic driver during the 15th Five-Year Plan period.The State Council-approved plan aims to significantly raise the household consumption-to-GDP ratio and achieve relatively fast growth in total goods and services consumption. Additional targets include optimizing consumption structure, continuously improving consumption capacity, enhancing the supply of goods and services, and substantially improving the consumption environment.On the economic front, China's trade surplus widened to $125.6 billion in June from $105.4 billion in May. The reading was higher than the consensus forecast of $121.4 billion tracked by Investing.com.In company news, Wus Printed Circuit Kunshan (SHE:002463) forecasted first-half attributable net profit of between 2.83 billion yuan and 3.00 billion yuan, compared with 1.68 billion yuan the previous year. Shares of the printed circuit board manufacturer jumped 10% Tuesday.
LimX Dynamics has secured nearly $200 million in a pre-initial public offering financing round.This brought total fundraising to $400 million over the past six months, according to a Tuesday tweet on X.Proceeds will be used to accelerate the integration of high-level cognition with whole-body control systems, enabling the large-scale deployment of thousands of fully autonomous humanoid robots.The Chinese humanoid robot developer plans to strengthen manufacturing capabilities and expand global presence across the Middle East, Europe and key Asian markets.LimX Dynamics will also continue building an open developer platform to drive physical AI innovation and commercialization.
China's trade surplus widened in June, driven by stronger-than-expected export growth as global demand for artificial intelligence infrastructure and technology hardware continued to surge.Trade surplus expanded to $125.6 billion from $105.4 billion in May, according to data from Chinese customs on Tuesday.The latest print beat the consensus forecast of $121.4 billion, tracked by Investing.com.Exports rose 27% year over year to $412.4 billion, beating the Investing.com consensus forecast for an 18.2% increase.Imports increased 36% from a year earlier to $286.8 billion, also exceeding the Investing.com consensus forecast for a 24% rise.The data reflects solid global demand for AI-related products, with international firms accelerating orders for semiconductors and data center components.At home, China is pushing heavily into the AI race, with hi-tech manufacturing growing 13.1% year over year, while hi-tech fixed asset investment rose 4.5%, according to ING.However, analysts note a persistent structural imbalance between booming foreign demand and sluggish domestic consumption."Explanations for this latter challenge include continued wealth destruction from the property downturn and wage growth slowing due to involution-type competition in a near-deflationary environment," Lynn Song, ING's chief economist for Greater China, wrote in a July 9 note.China's factory activity weakened to a three-month low in June, despite increasing demand for chips. The headline RatingDog China General Manufacturing Purchasing Managers' Index, or PMI, fell to 51.7 from 51.8 in May. Analysts from Nomura attributed this to the oversaturation of AI, which has been limiting its economic growth contribution.
China's trade surplus widened to $125.6 billion in June from $105.4 billion in May, according to data from the General Administration of Customs released Tuesday.The reading was higher than the consensus forecast of $121.4 billion tracked by Investing.com.Exports rose 27% year over year to $412.4 billion, beating the Investing.com consensus forecast for an 18.2% increase.Imports increased 36% from a year earlier to $286.8 billion, also exceeding the Investing.com consensus forecast for a 24% rise.
Chinese shares opened slightly lower on Tuesday, as escalating tensions around the Strait of Hormuz dampened risk appetite.The Shanghai Composite Index, the main gauge of Chinese stocks, opened 0.1% lower at 3,909.27. The Shenzhen Component Index ticked down 0.49 to 14,522.36.The fragile interim U.S.-Iran nuclear agreement signed in June hung in the balance as cross-border attacks escalated.The U.S. launched airstrikes against Iran on Sunday evening, only to be met hours later by Iran's Revolutionary Guard claiming strikes on American facilities in Kuwait, Jordan and Bahrain.While Tehran has announced the indefinite closure of the Strait of Hormuz, Washington continues to assert that the strait remains accessible to maritime navigation.
China's economic data will take center stage this week, with investors closely watching second-quarter GDP and June activity data for fresh clues on the health of the world's second-largest economy as it enters the second half of the year.Singapore and Malaysia will also release their second-quarter GDP estimates, offering a broader snapshot of regional growth.Inflation will remain in focus as India and Malaysia publish consumer and wholesale price data, providing further insight into price pressures.Markets will also be watching the Bank of Korea's latest monetary policy decision.Here's what to watch in the week ahead.MONDAY, July 13India will report June inflation numbers later today. Following a 3.93% reading in May, Trading Economics is expecting a slight uptick to 4.0%.TUESDAY, July 14Singapore will publish its advance Q2 GDP estimate. Goldman Sachs expects the economy to grow 5.2% year over year in the April-to-June period, slowing from 6.0% in the first quarter.Meanwhile, China's June trade figures will be closely watched as tensions between Beijing and the European Union over rising Chinese exports intensify.ING economists forecast export growth of about 17.5% YoY and import growth of 24.0%, resulting in a trade surplus of $120.1 billion.India will release its June wholesale price index, a key gauge of wholesale inflation. The data is being followed for insights into production-level cost pressures that could influence policy decisions.WEDNESDAY, July 15China's economy likely grew 4.5% YoY in the second quarter, slowing from the 5.0% expansion in Q1, according to a Wall Street Journal poll of economists.ANZ Research attributed the slowdown to a reduced number of working days due to extended spring holidays in April and May. Slower fiscal spending likely also weighed on growth as Beijing sought to preserve its fiscal buffer amid geopolitical uncertainty and energy-price shocks, ANZ said.The same WSJ poll forecasts China's retail sales contracted 0.1% in June, an improvement from the 0.6% decline recorded in May.Industrial production likely rose 4.7% in June, up from 4.5% in May, according to ING estimates. Meanwhile, fixed-asset investment is expected to have contracted 5.2% in the first half, widening from the 4.1% decline in the January-to-May period.Meanwhile, Japan will report its May machinery orders, while Reuters will publish the Tankan Index, a key survey of Japanese business sentiment.Elsewhere in the region, South Korea will release export prices and unemployment data.India's June trade data and unemployment rate are also due on Wednesday.THURSDAY, July 16The Bank of Korea (BOK) will hold its rate-setting meeting on Thursday after Governor Shin Hyun Song repeatedly signaled the need for tighter monetary policy.Bank of America analysts expect the BOK to raise its base rate by 25 basis points, citing elevated inflation concerns and foreign exchange stability risks."Against this backdrop, policymakers are likely to place greater emphasis on exchange-rate stability and its implications for inflation and financial conditions," BofA said in a note.FRIDAY, July 17Singapore will release its June non-oil domestic exports (NODX) data.DBS expects NODX growth to moderate to 25.0% year over year in June from 38.4% in May.Non-electronics exports likely eased due to an unfavorable comparison with the previous year, while electronics exports were likely supported by strong global demand for AI-related products, particularly memory chips and server equipment, DBS economists said.Meanwhile, Malaysia's inflation rate likely held steady at 2.0% in June, according to consensus estimates.Higher electricity tariffs and food prices were offset by lower transport costs as fuel prices declined, ANZ economists said, adding that inflation is expected to remain manageable and is unlikely to prompt Bank Negara Malaysia (BNM) to change its policy rate.On the GDP front, Malaysia's Q2 economic growth likely slowed from the 5.4% expansion recorded in the first quarter.BNM Governor Abdul Rasheed Ghaffour said high-frequency indicators point to some moderation in economic activity in the second quarter of 2026. He nevertheless said the economy continues to demonstrate resilience despite external uncertainties.Hong Kong's business confidence and employment data are also due for release on Friday.
Chinese railway passenger trips grew 5% year over year to more than 2.3 billion in the first half, Xinhua News Agency reported Monday, citing the China State Railway Group.Foreign passenger trips jumped 34% to more than 12.3 million during the half, with the China-Laos railways carrying 188,000 trips and the Guangzhou-Shenzhen-Hong Kong high-speed railway carrying about 17 million trips, Xinhua said.The average number of passenger trains increased 5.8% year over year to 11,468, according to the state-owned news agency.
Urban developers in China could expect continued government support as cash-generating business models are not seen to weaken the connection, Fitch Ratings said in a note published Sunday.The level of support will vary according to sub-sector, with municipal, county, and district-level developers able to expect higher support levels and industrial area developers expecting lower support, the debt watcher said.Fitch-rated urban developers could see higher leverage of about 40 times to 45 times and could remain higher in the near term.
Chinese equities closed deep in negative territory on Monday as tensions rose over the Strait of Hormuz following fresh hostilities between the U.S. and Iran.The Shanghai Composite Index, the main gauge of Chinese stocks, closed 2.1% lower at 3,913.79. The Shenzhen Component Index plunged 3.5% to 14,522.85.The U.S. launched fresh strikes on Iran Sunday evening, extending a days-long exchange of attacks. Within hours, Iran's Islamic Revolutionary Guard Corps claimed it had struck U.S. military facilities in Kuwait, Jordan and Bahrain, BBC News reported.The escalating violence jeopardizes June's interim U.S.-Iran deal, as Tehran says it has closed the Strait of Hormuz indefinitely, while Washington maintains it remains open, according to the report.Meanwhile, Chinese financial regulators are cracking down on local rating agencies' AAA or risk-free ratings for high-interest borrowers because of concerns that the bloated ratings could mislead smaller investors.China's central bank mandated domestic debt watchers to review high credit ratings, especially for bonds with higher yields compared with government debt.In company news, Fiberhome Telecommunication Technologies (SHA:600498) agreed to acquire the remaining 60% stake in 40%-owned Fujikura FiberHome Optoelectronic Materials Technology for 500.2 million yuan. Shares of the telecommunications equipment company closed 10% lower Monday.
Chinese shares opened lower on Monday as the market's adjustment phase entered its final stage.The Shanghai Composite Index, the main gauge of Chinese stocks, opened 0.8% lower at 3,966.02. The Shenzhen Component Index fell 0.9% to 14,908.98.Most analysts surveyed by The Paper believe there is "no need to worry too much" about the decline in the A-share market, citing ample liquidity, upward cycle in corporate profits and high market risk appetite.The structural adjustments that started in May are becoming more complete, and some analysts believe the conditions for ending the correction are falling into place, according to The Paper.Meanwhile, analysts and executives projected China's second-quarter GDP deflator to turn positive for the first time in over three years. The GDP deflator, which measures price changes across all goods and services produced domestically, has been in the contraction zone for 12 straight quarters and stood at 0.1% in the first quarter of 2026.In regulatory news, the China Securities Regulatory Commission and Hong Kong's Securities and Futures Commission held their 17th high-level enforcement cooperation meeting in Hong Kong to strengthen cross-border enforcement collaboration.
Hong Kong's Securities and Futures Commission and the China Securities Regulatory Commission held their 17th high-level enforcement cooperation meeting in Hong Kong to strengthen cross-border enforcement collaboration, according to a July 10 press release.The regulators exchanged views on their enforcement priorities and discussed ways to improve cooperation to combat cross-border crimes and misconduct, protect investors, and maintain market order.The meeting also covered recent major cross-border enforcement cases and measures to enhance information sharing.
China's second-quarter GDP deflator is projected to turn positive for the first time in over three years, state-owned China Daily reported Sunday, citing analysts and executives.The GDP deflator, which measures price changes across all goods and services produced domestically, has been in the contraction zone for 12 straight quarters and stood at 0.1% in the first quarter of 2026, the report said.Su Jian, director of Peking University's National Center for Economic Research, expects the Q2 GDP deflator to turn positive at around 1.9%, while Robin Xing, chief China economist at Morgan Stanley, upgraded his full-year deflator projection to 0.5%, 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.)
For the first time in at least three decades, China's 15th Five-Year Plan omitted a numeric target for urban job creation as the country grappled with the integration of artificial intelligence across its economy.Accelerating industrial transformation and population structure changes pose "new challenges to economic development and social governance," China's Ministry of Human Resources and Social Security said in a Thursday news release.The plan calls for assessing AI's effects on employment while introducing policies and initiatives to support job creation. It also emphasizes strengthening vocational training and expanding the workforce for AI-related occupations.
Chinese shares ended Friday's session in the red as the country faced European anti-dumping levies and new U.S. legislative threats.The Shanghai Composite Index, the main gauge of Chinese stocks, closed 1.0% lower to 3,996.16. The Shenzhen Component Index plunged 2.3% to 15,046.67.The European Commission has slapped anti-dumping duties ranging from 4.3% to 45.3% on passenger car and light truck tires originating from China. A separate anti-subsidy probe covering the same product categories remains ongoing, with final findings expected in December.Meanwhile, the U.S. Senate Commerce Committee has set a July 15 hearing to deliberate the bipartisan Connected Vehicle Security Act of 2026, legislation that would effectively bar Chinese automakers from selling passenger vehicles in the American market by prohibiting connected vehicle and software sales from adversarial countries.In company news, Tolerance Technology Jiangsu (SHE:301583) shares closed at 216.70 yuan apiece on their first day of trading on the Shenzhen bourse. This marked an 859% jump compared with the semiconductor equipment manufacturer's initial public offering price of 22.60 yuan per share.
The European Commission imposed anti-dumping duties on tires for cars and light lorries from China, according to a Thursday press release from the EC.The duties range from 4.3% to 45.3%.The scope of the products included a large variety of types and sizes of pneumatic, rubber tires with a load index below 121.The duties aim to protect the EU's tire industry, the EC said.In 2024, China's imports accounted for 28% of the bloc's market share.Another anti-subsidy investigation covering the same product scope is currently being conducted and will be concluded in December.
A fire at a shoe factory in Jinjiang, Fujian, China killed at least 28 people on Thursday, Xinhua News Agency reported the same day, citing local authorities.The fire hit the Huiteng Shoes factory at 12:04 p.m., according to the state-owned news agency.Police arrested the owner and several other personnel said to be responsible for the blaze. Authorities also froze the company's accounts, Xinhua said.
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