China Stocks Slip Despite Upbeat Data
The Shanghai Composite index experienced a slight decline of 0.1% to approximately 3,343, while the Shenzhen Component fell by 0.6% to 10,030 on Tuesday. This marked the fourth consecutive session of decreases for mainland stocks, occurring despite positive data on industrial profits. Specifically, profits at China's industrial firms increased by 1.4% year-on-year in the first four months of 2025, an improvement from the 0.8% growth seen during January to March, boosted by Beijing's supportive policies. In the realm of international trade, China and the European Union are intensifying their collaboration in response to rising US tariffs. Officials from both parties are set to convene again early next month to further strengthen their partnership and consider joint strategies. In business news, BYD Company saw its shares drop by another 2% after reports of significant price cuts in a recent promotional effort, which has sparked worries about potential pressure on profit margins. Other significant decliners included Eoptolink Technology, which dropped by 4.9%, Contemporary Amperex, down by 1.1%, and Shanghai Electric, which fell by 5.2%.
The material has been provided by - RobotFX
Download NOW!
No comments:
Post a Comment