China stocks set for monthly gain on hopes of better Beijing data, fresh stimulus
By Jiaxing Li
Hong Kong, Nov 29 (Reuters) -Chinese stocks rallied on Friday, and were set for monthly gains,on hopes offactory data this weekend showing a pick-up in activity and as investors bet on more stimulus aftera key policy meeting next month.
** At the midday break, China's blue-chip CSI300 index .CSI300 was up 2.01%, the best gain in three weeks. The Shanghai Composite index .SSEC added 1.59% at 3,348.20 points.
** The financial sector sub-index .CSI300FS advanced 2.19%, the consumer staples sector .CSI000912 rose 2.17%, the real estate index .CSI000952 added 1.65% and the healthcare sub-index .CSI300HC gained 2.28%.
** Hong Kong equities also gained on the day, with theHang Seng Index .HSI climbing 1.29% at 19,616.44.
** However, being moresensitive to international investors' sentiment towards China, the stocks were set fora second month of losses on looming geopolitical uncertainties and tariff risks.
** China's factory activity likely expanded modestly for a second straight month in November as the stimulus trickled through, a Reuters poll showed, though threats of new U.S. trade tariffs clouded the outlook.
** The official purchasing managers' index (PMI) due Saturday is expected to come inat 50.2, higher than October's 50.1and above the 50-point threshold that separates growth from contraction in activity.
** Meanwhile, the long-running property downturn is expectedto see some improvement, with home prices set to fall at a slower pace this year and next to stabilisein 2026, according to a separate Reuters poll.
** The gains in the onshore market on the dayhelped recoup all the losses seen earlier in November, putting the CSI 300 Index on track to register the best month since the policy blitz beganin September.
** Investors are also eyeing December'sCentral Economic Work Conference, which could provide more details about the fiscal budget and the scale of stimulus for consumption for the next year, Kevin Liu, managing director and strategist at CICC Research, said.
** "The meeting will be the short-term focus and performance will likelyfluctuate around market expectations."
Reporting by Hong Kong Newsroom; Editing by Sumana Nandy
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
