China's tourism data rebounds after Labor Day holiday, boosting domestic travel and markets
From Forbes: 2024-05-06 10:37:19
Asian equities rose following China’s Labor Day holiday. Domestic travel in China surged, with 295 million trips and 166.89 billion yuan spent. Shenzhen and Hong Kong saw policy changes and increased trading volumes. Mainland China stocks gained, while the Caixin Services PMI met expectations. President Xi visited France, and Geely Auto plans a US IPO for its EV brand Zeekr. Berkshire Hathaway’s AGM attracts Chinese investors to Omaha. Hang Seng indexes and Mainland stocks saw gains and increased volumes. Steel prices rose, copper fell. CNY appreciated against USD.
Read more at Forbes: China Market Update: Tourism Data Rebounds