China Stocks Erase All Reopening Gains as Property Woes Persist

-- Chinese stocks erased all the gains seen during their massive reopening rally that took off late last year, as persistent concerns about the health of the property sector help drive an unprecedented foreign outflow from the onshore market.Ringgit Falls to 25-Year Low, the Worst Performer in Asia After Yen This YearThe CSI 300 Index fell as much as 0.7% to 3,508.22 on Friday. That’s below its closing level on Oct.

A Bloomberg Intelligence gauge of Chinese developer stocks has tumbled about 44% in 2023 as policy efforts to rescue the property market have proved inadequate. Homebuyers remain cautious and several major developers continue to suffer from liquidity woes.Foreign investors’ outflow from the so-called A-share market has entered “an unprecedented stage,” Morgan Stanley strategists including Laura Wang wrote in a note, stating that the cumulative outflow of $22.1 billion from Aug. 7 to Oct.

The benchmark is now headed for a third month of declines despite a series of steps from policymakers in recent weeks to revive investor confidence. Measures such as boosting of stakes in big lenders by China’s sovereign wealth fund, liquidity injections by the central bank as well as tightening of curbs on short-selling activities had spurred bets of a tactical rebound in the market, which have yet failed to materialize.

Down nearly 10% in 2023, the CSI 300 gauge is one of the world’s worst-performing major indexes and on track for an unprecedented third-straight year of losses. The benchmark is trading at 10.3 times its one-year forward earnings estimates, more than two points below a five-year average. Blocking the deal is a clear step the government could take to address affordability concerns, Poilievre said in an interview to the newspaper. "If the biggest bank in Canada simply buys up a growing smaller player, then there's no hope of ever having more competition in Canadian banking," he told the newspaper. "If you remove HSBC, then you’ll be removing downward pressure on lending rates.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

China Stocks Erase All Reopening Gains as Property Woes PersistChinese stocks erased all the gains seen during their massive reopening rally that took off late last year, as persistent concerns about the health of the property sector help drive an unprecedented foreign outflow from the onshore market.
출처: BNNBloomberg - 🏆 83. / 50 더 많은 것을 읽으십시오 »

Stocks slip, oil jumps as hospital blast fans Mideast fears: Stock market news todayMiddle East tensions are weighing on markets in morning trade on Wednesday.
출처: YahooFinanceCA - 🏆 47. / 63 더 많은 것을 읽으십시오 »

Stocks slip as earnings ramp up, yields rise amid Mideast developments: Stock market news todayMiddle East tensions are weighing on markets in morning trade on Wednesday.
출처: YahooFinanceCA - 🏆 47. / 63 더 많은 것을 읽으십시오 »

Stocks slip, yields rise as earnings season ramps up: Stock market news todayMiddle East tensions are weighing on markets in morning trade on Wednesday.
출처: YahooFinanceCA - 🏆 47. / 63 더 많은 것을 읽으십시오 »

London Stock Exchange System Issue Halts Trading in Many StocksLondon Stock Exchange Group Plc is investigating a system incident, according to a statement on the company’s website.
출처: BNNBloomberg - 🏆 83. / 50 더 많은 것을 읽으십시오 »

European Stocks Drop on Poor ASML Results, Middle East TensionsEuropean stocks edged lower on Wednesday as disappointing results from ASML Holding NV weighed on the tech sector, while investors also considered escalating tensions in the Middle East.
출처: BNNBloomberg - 🏆 83. / 50 더 많은 것을 읽으십시오 »