**China A-shares plunge with over 4,800 stocks down; gold and silver dive sharply**
Chinese A-share markets experienced a broad sell-off on September 28, with the Shanghai Composite Index falling 1.74%, the Shenzhen Component Index dropping 3.37%, and the ChiNext Index sliding 4.32% by midday. Over 4,800 stocks declined. Gold and silver prices also plunged, with spot gold down 1.61% to $4,216.31/oz and silver down 2.85% to $62.42/oz. The sell-off coincided with rising expectations of a U.S. Federal Reserve rate hike, with CME FedWatch data showing a 64.8% probability of a 25-basis-point hike in October. The Shanghai Stock Exchange announced it will launch two new indices on September 29.
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China stocks plunge, gold and silver dive, new indices to launch
Chinese A-share markets experienced a broad sell-off on Monday, with the Shanghai Composite Index falling 1.74%, the Shenzhen Component Index dropping 3.37%, and the ChiNext Index sliding 4.32% by midday. Over 4,800 stocks declined. Sector performance was mixed, with auto manufacturing, small appliances, and pork stocks gaining, while optical fiber, precious metals, and components fell. The Shanghai Stock Exchange and CSI Index Company announced they will launch the Shanghai Stock Exchange Innovative Drug Sci-Tech Leading Index and the Shanghai Stock Exchange Sci-Tech Board Software Services Index on September 29. In international markets, Japan's Nikkei 225 opened slightly higher, while South Korea's KOSPI fell over 2%. U.S. and European equity index futures declined. According to CME's FedWatch, the probability of the Fed holding rates at 3.75%-4.00% in October is 35.2%, while a 25-basis-point hike has a 64.8% probability. Gold fell 1.61% to $4,216.31/oz, and silver dropped 2.85% to $62.42/oz. Oil prices rose, with Brent crude up 1.36% to $98.77/barrel. U.S. President indicated willingness to continue negotiations with Iran, while rejecting a previous Iranian peace proposal.
Read sourceChinese Stocks Plunge, Gold and Silver Dive, New Indices Announced
Chinese A-share markets experienced a broad sell-off on September 28, with the Shanghai Composite falling 1.74%, the Shenzhen Component dropping 3.37%, and the ChiNext Index sliding 4.32% by midday. Over 4,800 stocks declined. Sector-wise, auto manufacturing, small home appliances, and pork stocks gained, while CPO, components, copper cable, fiber optics, and precious metals fell. The Shanghai Stock Exchange and China Securities Index Company announced they will launch the Shanghai Innovation Drug Science and Technology Leading Index and the Shanghai STAR Market Software Services Index on September 29, providing new investment benchmarks. Internationally, Japan and South Korea markets opened mixed, with South Korea's KOSPI later falling over 2%. US and European equity index futures also declined. According to CME's FedWatch, the probability of a 25-basis-point rate hike at the Fed's October meeting is 64.8%, while a 50-basis-point cumulative hike by December stands at 50.9%. Gold and silver prices plunged, with spot gold down 1.61% to $4,216.31/oz and silver down 2.85% to $62.42/oz. Oil prices rose, with Brent crude up 1.36% to $98.77/barrel. US President Trump stated he expects to continue negotiations with Iran, after rejecting an Iranian peace proposal.
Read sourceA shares plunge with over 4800 stocks down; gold and silver prices also drop sharply
Chinese A-share markets experienced a broad sell-off on Monday, with the Shanghai Composite Index falling 1.74%, the Shenzhen Component Index dropping 3.37%, and the ChiNext Index sliding 4.32% by midday. Over 4,800 stocks declined. Sector performance was mixed, with auto manufacturing, small home appliances, and pork stocks gaining, while CPO, components, copper cable, fiber optics, and precious metals fell. The Shanghai Stock Exchange and China Securities Index Company announced they will launch the Shanghai Stock Exchange Innovative Drug Sci-Tech Leading Index and the Shanghai Stock Exchange STAR Software Service Index on September 29 to provide more investment benchmarks. Internationally, Japan and South Korean stock markets opened mixed, with South Korea's KOSPI later falling over 2%. US and European equity index futures also declined. According to CME's FedWatch tool, the probability of the Fed holding rates at 3.75%-4.00% in October is 35.2%, while a 25-basis-point hike has a 64.8% probability. Gold and silver prices plunged, with spot gold down 1.61% to $4,216.31/oz and silver down 2.85% to $62.42/oz. Oil prices rose, with Brent crude up 1.36% to $98.77/barrel. US President Trump said he expects to continue negotiations with Iran, after rejecting Iran's proposal to end the war.
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China A-Share Indices Fall Broadly; Banks, Robotics Buck Trend; Fed Rate Hike Bets Rise
On the morning of September 24, China's A-share major indices fell sharply, with the Shanghai Composite Index down 0.93%, the Shenzhen Component Index down 1.74%, and the ChiNext Index down 1.84%. Over 4,300 stocks declined. Banking, robotics, and wind power equipment sectors rose against the trend. The People's Bank of China conducted an 800 billion yuan 1-year MLF operation and announced overnight reverse repo operations to maintain liquidity. Meanwhile, non-ferrous metal stocks fell sharply, led by precious metals, amid rising expectations of a U.S. Federal Reserve rate hike. Data cited in the report shows the probability of a Fed rate hike in October has risen to 69.7%, with a 54.8% chance of a 50-basis-point cumulative increase by December.
Read sourceChina A-Share Indices Fall; Banks, Robotics, Wind Power Buck Trend; MLF Operation Announced
On the morning of September 24, China's A-share major indices fell broadly, with the Shanghai Composite down 0.93% to 3900 points, the Shenzhen Component down 1.74%, and the ChiNext down 1.84%. Over 4,300 stocks declined while more than 1,000 advanced. Non-ferrous metals, precious metals, and real estate sectors led the losses, with Huaxia Happiness (600503) hitting the daily limit down. In contrast, the banking, robotics, and wind power equipment sectors rose. The People's Bank of China announced an 800 billion yuan 1-year Medium-term Lending Facility (MLF) operation and plans for overnight reverse repo operations from September 28 to October 8, with daily volume up to 1 trillion yuan, to maintain ample liquidity. Hong Kong indices also fell, with the Hang Seng Index down 0.5%. Meanwhile, precious metals and non-ferrous metals stocks dropped sharply, attributed to rising expectations of a US Federal Reserve rate hike; data cited in the article shows the probability of a Fed rate hike in October has risen to 69.7%.
Read sourceChina A-shares open lower as US rate hike fears, bond yields weigh on sentiment
China's A-share markets opened lower on September 24, with the Shanghai Composite Index down 0.28%, the Shenzhen Component Index down 0.45%, and the ChiNext Index down 0.38%. The STAR 50 Index fell 0.49%. The decline was attributed to overnight weakness in US equities, where the S&P Global US Composite PMI hit a 27-month high of 58.4, and hawkish Fed signals pushed the probability of a 25-basis-point rate hike in October to about 75%. The 10-year US Treasury yield briefly rose to 5.133%, the highest since 2007, pressuring global equity valuations. Precious metals and semiconductor sectors led the decline, while publishing, TV broadcasting, textile manufacturing, and education sectors bucked the trend. The People's Bank of China conducted an 800 billion yuan 1-year medium-term lending facility operation and announced overnight reverse repo operations from September 28 to October 8 to manage cross-holiday liquidity. The Ministry of Industry and Information Technology outlined plans for next-generation communication network construction during the 15th Five-Year Plan period. International oil prices rebounded sharply, with Brent crude closing up 3.86% at $103.08 per barrel.
Read sourceChina A-shares open lower across three major indices; publishing and textile sectors buck trend
China's A-share market opened lower on September 24, with the Shanghai Composite Index down 0.28% at 3925.32, the Shenzhen Component Index down 0.45% at 13575.07, and the ChiNext Index down 0.38% at 3366.89. The STAR 50 fell 0.49% to 1652.69. By 9:34 AM, 2,425 stocks rose and 2,783 fell. Sectors such as publishing, TV broadcasting, textile manufacturing, and education gained, while precious metals, semiconductors, real estate services, and copper-clad laminates declined. The report attributes the weakness to overnight U.S. stock declines and rising U.S. Treasury yields, with the 10-year yield hitting 5.133%, the highest since 2007. The People's Bank of China conducted 800 billion yuan in 1-year medium-term lending facility operations and announced overnight reverse repo operations from September 28 to October 8. The Ministry of Industry and Information Technology plans to advance next-generation communication networks during the 15th Five-Year Plan period. International oil prices rebounded sharply, with Brent crude closing at $103.08 per barrel.
China A-shares open lower; publishing, textile buck trend; US yields, Fed hawkishness weigh
China's major stock indices opened lower on September 24, 2024, with the Shanghai Composite down 0.28%, the Shenzhen Component down 0.45%, and the ChiNext down 0.38%. The STAR 50 fell 0.49%. The report attributes the decline to overnight weakness in US equities, where the S&P Global US Composite PMI rose to 58.4 (a July 2021 high) and Fed officials signaled a hawkish stance, pushing the probability of a 25-basis-point rate hike in October to about 75%. The 10-year US Treasury yield hit 5.133%, the highest since 2007. In China, the central bank conducted 800 billion yuan in 1-year medium-term lending facility operations and announced overnight reverse repo operations from September 28 to October 8. Sectors such as publishing, TV broadcasting, textile manufacturing, and education rose against the trend, while precious metals, semiconductors, and real estate services fell. International oil prices rebounded, with Brent crude closing at $103.08 per barrel.
China A-shares open lower; publishing, textile sectors buck trend amid rate fears
China's major A-share indices opened lower on September 24, with the Shanghai Composite down 0.28%, Shenzhen Component down 0.45%, and ChiNext down 0.38%. The STAR 50 fell 0.49%, leading declines. By 9:34 AM, 2,425 stocks rose versus 2,783 fell. Publishing, TV broadcasting, textile manufacturing, and education sectors gained, while precious metals, semiconductors, and real estate services fell. The decline was attributed to overnight US market weakness: the S&P Global US Composite PMI hit 58.4 (highest since July 2021), and hawkish Fed signals pushed the probability of a 25-basis-point rate hike in October to about 75%. The 10-year US Treasury yield rose to 5.133%, a 16-year high. Domestically, the People's Bank of China conducted 800 billion yuan in 1-year medium-term lending facility operations and announced overnight reverse repo operations from September 28 to October 8, with daily capacity up to 1 trillion yuan. The Ministry of Industry and Information Technology announced plans for next-generation communication network construction during the 15th Five-Year Plan period, including dual 10-gigabit broadband and low-orbit satellite internet. International oil prices rebounded sharply, with Brent crude closing at $103.08 per barrel.