China stocks rise on stimulus hopes while Hong Kong falls due to weak GDP data

From XM Group: 2024-07-15 04:41:50

China stocks closed higher while Hong Kong shares fell on Monday, following weak GDP data and higher chances of Trump winning U.S. elections. Shanghai Composite and CSI 300 Index rose slightly, Hong Kong’s benchmark Hang Seng Index dropped 1.5%. Chinese economy grew at 4.7% in Q2, missing forecasts. Market participants hope for stimulus from key leadership gathering. Industrial output exceeds consumption, posing risks. Tech giants and property developers in Hong Kong saw declines. Concerns about export growth due to trade protectionism and Trump’s potential victory. Plenum aims to boost economic confidence, but challenges remain in implementing changes, with conflicting goals of growth and debt reduction. Zheshang Securities warn of bearish impact on domestic assets if Trump imposes more tariffs.



Read more at XM Group: China stocks rise as weak GDP data spurs stimulus hopes; Hong Kong down