PRE-MARKET CHINESE STOCKS NEWS: Chinese authorities have launched a renewed effort to stabilise the country's struggling stock market

Anhui Expressway (548 HK) - Co. September (CNY) Shenzhen toll rev. of 318mln (prev. 363mln Y/Y). (Newswires)

BYD Electronic (285 HK) - Electric trucks reached 50% of China's heavy truck sales, reducing diesel demand. (Electrek)

Chinese Foreign Minister met with Iran's Bagheri Kani, according to SNN, with Beijing maintaining that negotiations were the only solution to the situation in the Middle East, while China's special envoy is expected to visit Iran, Oman and Saudi Arabia within the next two weeks. (Newswires)

Chinese authorities have launched a renewed effort to stabilise the country's struggling stock market, with a string of measures announced on Monday to boost liquidity, cut rates for share buy-back loans and ease curbs on leveraged trading. (SCMP)

PBoC will launch a one-year, extendable swap facility for securities, fund and insurance companies today to support capital market stability, with 31 firms having applied for more than CNY 100bln in funding. (Newswires)

PBoC pledged to strengthen support for the stock market by expanding participation in its swap facility for securities firms, funds and insurers, moderately lowering swap fees and conducting operations when appropriate. The central bank added that financial institutions would be encouraged to make greater use of two equity-support tools to bolster market stability and confidence.

HKMA Chief Executive Eddie Yue expects a "nice" performance from the Exchange Fund and said today's Q3 GDP figures will be "good". (Newswires)

This is a familiar pattern: Chinese authorities have repeatedly resorted to coordinated stabilisation packages when equity weakness threatens to feed into confidence and consumption, and the anatomy is consistent across episodes. A central bank swap facility letting brokers, funds and insurers pledge equity holdings for liquidity, cheaper relending for buybacks, and looser margin rules, with state-linked buying typically doing the heavy lifting underneath. Past rounds of this kind have tended to produce sharp, concentrated relief rallies led by the sectors most exposed to the tools, with durability depending on whether follow-through arrives in the form of fiscal support and property stabilisation rather than liquidity plumbing alone. The distinction worth drawing is between measures that change the cost of holding equities and measures that change expected earnings; the former has historically faded without the latter. Worth watching is the actual uptake of the facility against the announced application figures, whether the tools are extended or enlarged, and whether the rhetoric from the PBoC is matched by concrete fiscal announcements from the finance ministry. The Hong Kong GDP commentary and the toll revenue and EV data sit alongside as the underlying tape the policy is pushing against.