Chinese Stocks to Stagnate in Second Half on Lack of Catalysts, Top Brokerages Say

Chinese stocks to stagnate in second half on lack of catalysts, top brokerages say

Chinese stocks are likely to tread water in the second half as investors refrain from big bets amid a lack of fresh catalysts, according to the nation’s top-ranked brokerages. A deflationary trend and sluggish earnings growth will continue to weigh on yuan-denominated stocks, but state intervention and an economic recovery – albeit weak – will put a floor under the market, according to GF Securities, Industrial Securities and Shenwan Hongyuan Gr…

Chinese Investors Dump Hong Kong Tech Stocks

Chinese investors have significantly reduced their holdings in major Hong Kong-listed technology stocks during June, potentially impacting the market’s recent rally. According to Bloomberg calculations based on exchange data, mainland investors net sold a combined HK$46.4 billion ($8.9 billion AUD) worth of shares in Tencent, Xiaomi, and Alibaba through trading links with Hong Kong. This selling trend extended from May, raising questions about t…