Thu, March 28, 2024

Stocks: China’s economy and trade deal

Trade war and China's economy

Last week, the U.S. and China reached a long-awaited agreement regarding the “Phase one” trade deal. This news as well the information connected with China’s industrial output and retail sales, helped to boost Chinese stocks.

On Sunday, U.S. Trade Representative Robert Lighthizer commented on the U.S.-China trade deal. According to Lighthizer, as a result of this deal, the U.S. will double its exports to China over the next two years.

Based on the preliminary information, the U.S. and China would sign the partial trade deal at the beginning of January.

Stocks on December 16Stocks and the future of trade deal

As mentioned, above mainland Chinese stocks increased thanks to the country’s industrial output and retail sales. Both surpassed market expectations.

The Shanghai Composite gained 0.56% to 2,984.39 at the close on Monday afternoon. At the same time, the Shenzhen component rose by 1.54% to 10,158.24. The Shenzhen composite rose 1.56% to 1,686.41. Shenzhen’s Nasdaq style start-up board ChiNext jumped almost 2% to 2,090.14.

In Hong Kong, the Hang Seng index fell by 0.34% during the last hour of trading.

Let’s get back to the country’s industrial output, which increased by 6.2% year-on-year in November. Based on the data provided by China’s National Bureau of Statistics. Analysts expected that industrial production would increase by 5%.

In November, retail sales rose 8.0% year-on-year.

Nevertheless, markets in other Asian countries had a mixed reaction regarding the “Phase one” trade deal.

In Japan, the Nikkei 225 declined by 0.29% to 23,952.35. Topix index fell by 0.18% to 1,736.87.  In South Korea, the Kospi index also failed to reach a positive result as it fell by 0.10% to 2,168.15.

Australia’s S&P/ASX 200 achieved the best result in the region. The index gained 1.63% to 6,849.70. Major miners and banks helped to increase the S&P/ASX 200 index.

YOU MAY ALSO LIKE

Ford

Quick Look: CVA Family Office LLC snaps up 4,559 shares of Ford

The government aspires to make Portugal Europe's top producer of prime lithium for electric car batteries.

Quick Look: Atlas Lithium signs investment and offtake agreements with Mitsui. Mitsui

Stocks and various factors, Baltimore

Quick Look: The Francis Scott Key Bridge in Baltimore collapsed after a

COMMENTS

Leave a Comment

Your email address will not be published. Required fields are marked *

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spreads
    Sending
  • Trading Instument
    Sending

BROKER NEWS

Plus500 Expands Office Space in Haifa and Boosts Hiring

Plus500 has significantly expanded its Haifa office space and increased recruitment efforts across various departments. Local news source Walla reports the brokerage has leased an additional 5,800 square meters in the Gev-Yam complex

BROKER NEWS

Stock Report – stock exchange background – WibestBroker

Plus500 Expands Office Space in Haifa and Boosts Hiring

Plus500 has significantly expanded its Haifa office space and increased recruitment efforts across various departments. Local news source Walla reports the brokerage has leased an additional 5,800 square meters in the Gev-Yam complex in