PRE-MARKET CHINESE STOCKS NEWS: Chinese RatingDog Services & Composite PMI data is scheduled today, while Hong Kong markets are closed
China's composite PMI data release alongside significant corporate earnings, particularly in the automotive and real estate sectors, signals potential pressures on economic recovery, especially with mixed sales results.
Explosions reported near Iranian Revolutionary Guard base in southwestern Iran
PBoC sets USD/CNY mid-point at 6.8929 vs exp. 6.8884 (Prev. 6.8880)
PRE-MARKET CHINESE STOCKS NEWS: Chinese RatingDog Services & Composite PMI data is scheduled today, while Hong Kong markets are closed
Japanese Finance Minister Katayama says Japan has signalled its willingness to respond firmly to FX market fluctuations, adds prepared to respond on all fronts, bearing in mind that this volatility is affecting people's lives
Iran is responding to the threat of a ground operation by bolstering defences around its largest oil port, while threatening to attack a wider array of targets around the Gulf and launching a mass recruitment drive including children, according to WSJ
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China Vanke (000002 CH) - Co. reported March (CNY) contracted sales of 2.23bln (prev. 3.21bln Y/Y). (Newswires)
Chongqing Changan Automobile (000625 CN) - Co. reported March vehicle sales rose 1.1% Y/Y to 270.9k units, while production fell 13.8% Y/Y to 217.1k units. (Newswires)
Guangzhou Automobile Group (601238 CN) - Co. reported March vehicle unit sales rose 1.7% Y/Y to 176.9k units. (Newswires)
SAIC Motor (600104 CN) - Co. reported March vehicle unit sales of 375.9k units (prev. 385.7k Y/Y), while production of 355.4k units (prev. 390.7k Y/Y). (Newswires)
SDIC Capital (600061 CN) - Co. FY25 (CNY) net 3.28bln (exp. 4.10bln), rev. 13.5bln (exp. 15.7bln). (Newswires)
Yuexiu Property (123 HK) - Co. reported March (CNY) contracted sales fell 43.9% Y/Y to 10.1bln. (Newswires)
Airbag Manufacturers - US Transportation Department considers permanent ban on Chinese air bag inflators tied to eight fatal car crashes. (Newswires)
Other News
China Industry Ministry MIIT said China is to optimise supply of computing power resources and improve AI application service systems, while to lower threshold for accessing computing power by 2028. (Newswires)
China’s MOFCOM said they are to enhance communications with the US on trade. (Newswires)
US lawmakers proposed a crackdown on sales of chip tools to China, while the House bill on chipmaking gear restrictions was unveiled on Thursday and the Senate is expected to announce its chip gear bill in the coming weeks. (Newswires)
The contraction in vehicle sales for companies like China Vanke and Yuexiu Property indicates challenges in the housing market and consumer demand, which could have implications for future policy adjustments. Additionally, ongoing US-China trade tensions may impact investor sentiment, particularly regarding technology and manufacturing sectors.
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