CSI300 dropped 0.9%
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The CSI 300 fell 0.9% this week on volume below the average and lower than the last week. The market condition was Downtrend. The index continued to fall this week, with support turning to the February 2 low of 3108. The official manufacturing PMI for June came in at 49.5, unchanged from the previous value but below expectations. The unofficial Caixin services PMI for June came in at 51.2, below the previous value.The U.S. PCE price index rose 2.6% year-on-year in May, lower than the previous value. The core PCE price index rose 2.6% year-on-year in May, lower than the previous value, and rose 0.1% m/m, the smallest gain in six months. The data suggests inflationary pressures are easing and expectations of rate cuts are back. Trump’s approval rating rose in the first round of U.S. presidential debates. A-share export stocks came under pressure on concerns about his more aggressive tariff policies. Market sentiment continues to be sluggish. Investors are advised to operate cautiously and adopt a defensive strategy. Follow-up attention is the twentieth session of the Third Plenary Session, which will be held in mid-July. Northbound outflow via the HK-China Stock Connect was RMB13.9B.
Leading: Utility (+1.2%), Real Estate (+1.2%), Energy (+0.7%); Lagging: Technology (-2.7%), Industrial (-2.4%), Consumer Cyclical (-1.5%).
【A33】portfolio lost 1.4% with 12 stock up and 21 down . A modern enterprise for the development and manufacture of automotive parts Ningbo Sngn.Auto Parts (300100) led the gains. The stock rose 9.6% this week. RS and AD ratings were 97 and A-. DG rating was 72.
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published on July 5, 2024