The 211 Chinese companies listed in Hong Kong and within the MSCI China All Shares Index gained +0.13% led by energy +2.43%, utilities +2.2%, materials +1.44%, healthcare +0.63%, tech +0.42%, discretionary +0.26%, and industrials +0.21%. The Hang Seng Index and Hang Seng Tech Index gained +0.36% and +0.28%, respectively, as volume shrank -2.36% from yesterday, which is only 80% of the 1-year average.
#SOURCES DIDI CHINABASED LINKDOC US UPDATE#
Stock Performance kraneshares H-Share Update Monday is a market holiday in both Hong Kong and Mainland China. For South Korea to be upgraded to developed from emerging markets, the lack of an offshore currency forward and the implementation of a short-selling ban last year will be problematic. There was also no announcement regarding China A-share inclusion For the further inclusion of China A-shares to go forward, the foreign ownership limit of 30% is apt to be problematic.
Although it was not announced in this latest round of index review, whether South Korea will continue to be classified as an emerging markets country could be announced on June 24 th. MSCI MSCI released their Global Market Accessibility Review. Yesterday’s news about a higher alcohol tax may have spooked foreigners. Sell volume in the stock outpaced buy volume by 3 to 1. Liquor stocks were weak today as foreign investors sold Kweichow Moutai.
EV battery maker CATL is on fire as China EV sales grow along with chatter of Apple entering the space. The EV space was a top performer driven by the BYD comments along with May auto sales gaining +3.1% year over year. Mainland China saw high trading volumes driven by domestic indexes rebalancing.įTSE Russell’s pro-forma for its semi-annual index review was released last night, which appears to include a large inflow for Chinese stocks in Hong Kong.Įlectric bus maker BYD did well, once again, as the CEO was interviewed at the Yabuli China Entrepreneur Forum, where he made some very confidant statements about the company’s outlook while taking a shot at Huawei’s electric vehicle (EV) efforts. Key NewsĪsian equities had a mixed day in advance of a three-day weekend for Hong Kong, China, Australia, and Taiwan. The other factor is the valuation premium that US tech shares command versus other global markets. There is too much money involved across US stock exchanges, investment bankers, lawyers, accountants, etc.ģ) US private equity firms probably prefer a US listing, which allows them to exit their positions with ease.
#SOURCES DIDI CHINABASED LINKDOC US SOFTWARE#
China’s Producer Price Index (PPI) for May was also released this week, indicating an average increase of +9% year-over-year in the prices that factories and other producers pay for their inputs.While the reported figure missed a sky-high estimate, export growth may accelerate in the months ahead as the global economy continues to come back online. China reported Monday that exports rose +18.1% year-over-year in May compared to an estimated +19.5%.
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