Hang Seng topped, next buy zonesHang Seng has topped, after an incredible move-up. These are the next two target zones to buy the dip.
China
China Stocks: What to Expect When Markets Reopen Stocks in Shanghai, Shenzhen, and Hong Kong took off last week and continued their climb on Monday, posting their best single-day rally in 16 years. This surge came after several announcements from Beijing aimed at boosting the country’s economy.
But now, The Shanghai Stock Exchange will be closed from Oct. 1 to Oct. 7 for China’s National Day celebrations, and Hong Kong’s market will also shut on Oct. 1. However, U.S.-listed China ETFs will still be trading, so when the Chinese exchanges reopen on Oct. 7, we could see big moves as global investors get ahead of the Chinese market.
China’s stock market is known for its wild swings, mainly because retail investors make up about two-thirds of the trading. That means we might see some significant volatility once the markets open back up.
CNY/USD Trend since 06 2007. Channel. Reversal zone.Logarithm. Time frame 1 week. At the moment, the currency is stronger than the dollar.
The main trend is a descending channel. The price is in it now.
Secondary trend — breakout of the descending trend line. Price growth to the median of the channel, and in case of its breakthrough, to the resistance. If not, then a pullback to the lower zone of the channel.
Local trend — The nearest events and news background, which can affect (not necessarily) locally (movements to the median of the channel, i.e., the middle, if it is positive) on the yuan rate. This, in less than 1 month, namely from October 22 to 24, 2024 will be held 7.16 XVI BRICS summit (short for Brazil, Russia, India, China, South Africa) in Russia in Kazan.
Line graph for visualization.
MCL: One-Two Punch Could Lift Crude Oil to Higher GroundNYMEX: Micro WTI Crude Oil Futures ( NYMEX:MCL1! )
On September 18th, the U.S. Federal Reserve cut interest rate by a supersized 50 basis points, ushering a long-awaited monetary easing cycle.
Six days later, on September 24th, China introduced a broad stimulus package to revive its economy. It includes cutting interest rates, reducing bank reserve requirements, supporting the property sector, and injecting liquidity into the stock market. Specifically,
• The People’s Bank of China (PBOC), China’s central bank, cut its 7-day reverse repurchase rate to 1.5% from 1.7%
• The PBOC slashed the reserve requirement ratio of financial institutions by 0.5%
• The PBOC lowered home mortgage downpayment requirements to 15%; previously, those buying houses other than primary residence were required to put down 25%
• Separately, the PBOC would advise banks to lower mortgage interest rate by 0.5%
• The PBOC also announced a new RMB $1 trillion long-term credit facility (equivalent to US$143 billion). It allows financial institutions to use their stocks, bonds and ETF funds as collateral to obtain funding from the PBOC. The use of fund is specifically earmarked for credit lending to publicly traded companies for stock buyback
Each of these policies is a major stimulus measure. Putting together, they have the potential to reshape the economic outlook for China, and for the rest of the world as well.
Following the announcement, Chinese stock markets clocked their best week in 16 years as the CSI 300 rallied 15.7%. Hong Kong’s Hang Seng index recorded a weekly gain of 12.75%. On Friday, the CSI 300 climbed 4.47% to close at 3,703.68, its highest level in a year, while the HSI rose 3.32% to 20,586.94, its highest since February 2023.
On Monday, September 30th, China’s SSE Composite Index rallied 8.06%, closing at 3,336.50. This marks a nine-day winning streak, its best day since September 2008 and its highest point since August 2023.
In 2024, China’s economy has slowed significantly. Last week, China released its industrial profit data for August, which saw a 17.8% plunge year on year. On a year-to-date basis, profits at large industrial firms grew at 0.5% to 4.65 trillion yuan ($663.47 billion) for the first eight months, down from 3.6%.
However, China’s supersized monetary policies could help its economy turn a corner. It is highly expected that China’s Ministry of Finance will follow suit to announce new fiscal stimulus and add more ammunition to fuel economic growth.
Together, the extraordinary measures installed by the Top 2 economies, which account for 40% of global GDP, could help improve the global economy in a meaningful way.
WTI Crude Oil: Higher Demand from Economic Growth
While it is still too early to quantify how much the global economy would benefit from these stimulus measures, we could expect higher industrial output from the government credit extension and the lower business cost of capital. The potential impact could be huge for stocks, bonds, foreign exchange and commodities. Today, my analysis concentrates on crude oil.
The Fed rate cut and China Stimulus package both exceeded market expectations. These are game changers big enough to reverse the declining trend of crude oil prices. Recent escalation of Middle East conflict would only add to the uncertainty of oil supply.
In my opinion, WTI could reclaim the previous levels of $76, $83 and $89, consequently. The expected stimulus from China’s Ministry of Finance and the November 6th FOMC rate cut could support the upward trend if they meet or exceed market expectations.
The recent CFTC Commitment of Traders report confirms a shift to the long positions:
• As of September 24th, total open interest (OI) of WTI futures was 2,242,432 contracts
• Managed Money held 210,469 long and 48,541 short, a 4.3-to-1 ratio
• Compared to the previous week, the long positions increased by 24,734, while the shorts decreased by 3,969 contracts; this shows a bullish view building up
For someone with a bullish view of crude oil, he could establish a long position in NYMEX Micro WTI Crude Oil Futures ( GETTEX:MCL ). The contract has a notional value of 100 barrels. At 1/10 the size of benchmark WTI Crude Oil contracts, Micro WTI futures offer the same robust trading transparency and price discovery with smaller margin requirements. At Friday closing price of $68.63, each November contract (MCLX) is worth $6,863. CME Group requires an initial margin of $596 for each MCL contract, long or short.
Hypothetically, if WTI bounced back to $76.88, its previous high on August 5th, the price increase of $8.25 would produce a gain of $825 (=8.25x100) for a long position.
The risk of buying crude oil is that the follow-up government stimulus packages were less than market expectations, which could undermine the growth forecast. To hedge the downside risk, an experienced trader could consider the use of put options on WTI crude oil futures.
Happy Trading.
Disclaimers
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
NIO: After this huge recent pump, I decided to sell my entireAfter this huge recent pump, I decided to sell my entire position in NIO. Good luck to those still holding.
First daily resistance hit... for now...
Many other friends told me they're waiting for $10 to sell...
Technical Analysis on JD.comJD.com has experienced a strong bearish trend since February 2021, reaching its lowest point in 2024, near the support area of $20, with an overall loss of about 80% of its value.
By conducting a volume analysis using the Volume Profile of the entire history, we can see that JD.com was recently rejected from a significant support level, POC 1, around the $25 price zone, also breaking the descending trendline. This provides a strong signal for a potential reversal.
In a short time, the stock has reached another important volumetric area, POC 2, which could act as the first resistance level. At this point, we might observe the first reaction of price rejection.
Considering the broader momentum, particularly the economic situation in China, the stock may quickly overcome this resistance. If JD.com moves above POC 2, it would likely face few obstacles in reaching the next resistance level (R1) just below $70, given the low trading volume in this price range.
BTC breaks above 65,000On the back of a larger than expected FED rate cut of .50 risk assets breathe a sigh of relief long held in since the rate cut rumors of Q2 2024. The gains were cemented by a cooler than expected PCE of .1% as opposed to the expected .2% this is the FED’s preferred measure of inflation putting some level of ease to risk asset investor that the FED may turn face on the easing of monetary policies. If this continues a fear people have a of 70’s style inflation issue will be put to rest. China also joined the party will an AGGRESSIVE stimulus packages direct to the people and promises to do more if need be. They also encouraged stock buy backs, if you know anything about the investment market in China the options for quality investment are very limited as the Real Estate market was the main choice but since the Evergrande collapse Chinese investor have had little to no choice. This makes a scenario for crypto investment as an alternative to stocks but the CCP obviously like control so we will if that plays out.
How this affect Crypto bros the short of it is when global liquidity goes up so do assets especially when people get cash in hand example 2020-2021 when everyone and their dog was investing. Now while stimulus direct to consumers is like throwing gas on the fire the FED rate cuts are like throwing a log on embers. The rate cuts take about a year to affect the general economy but the immediate effect is bank to bank loan rate i.e it’s cheaper to take on debt. Now with the rise of NASDAQ:MSTR strategy with other companies this will make it cheaper for companies to take on debt so companies like Metaplanet and other yet to disclose will find the “BTC Yield” more significant to offset loan cost. And lastly all risk assets benefit from low rate environments.
In sum NFA but I would buy CRYPTOCAP:BTC as always and load up on alts while BTC out perform my mix ideally 75% BTC 15% alts and 10% cash for dippy dips
Alibaba (BABA): Stagnation Phase or Momentum Boost?We are currently experiencing a phase of stagnation with Alibaba, as the stock remains in a new accumulation phase after breaking out of the previous one. The price might retest the Point-of-Control along with the trendline that was broken during the breakout, potentially providing a good momentum boost.
Despite the sideways movement, our position remains profitable. From a long-term perspective, our entry looks strong, with a 10% stop-loss from our entry point. The upside potential for Alibaba is significant, given how far the stock is from its historical highs.
The main concern with Alibaba is the jurisdiction risk, as it is a Chinese stock and subject to influences from China, which adds a layer of risk not present with American stocks. Nevertheless, as long as the price stays above $72.38, the outlook remains positive. Losing this level would be unfavorable and could indicate further downside risk.
In summary, we remain optimistic about Alibaba's potential, keeping a close watch on the key support levels to manage risk effectively.
JD, Longing 6/7 months. CHINA COMEBACK IS REAL...Is China going for it?
Our best Shot is JD.COM, let´s take that shot!
Also the high volume during August 20th, seems Buying.
CN50USD to continue in the rally?CHN50 - 24h expiry
There is no indication that the rally is coming to an end.
Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher.
Risk/Reward would be poor to call a buy from current levels.
A move through 13200 will confirm the bullish momentum.
The measured move target is 13500.
We look to Buy at 12900 (stop at 12740)
Our profit targets will be 13300 and 13500
Resistance: 13200 / 13300 / 13500
Support: 13000 / 12900 / 12750
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
CHINA GOING FOR IT! Until Christmas? #BlowoffTop and Recession!Breakout and retest for RSI, China breakingout after 6 long years.
This will have implications on every market, they were waiting for the FED to pull the trigger and now they can go. Game on!
#JD is going, Commoditties will go for it, except #oil maybe.
But more important, #Bitcoin will have the #BLOWOFFTOP I was looking for.
That´s the News GOODS...
The BAD News is, Recession or Crisis after it. December or March 25´as late.
Bullish IQ , online video streaming in chinaIQ has been drowned and punished for a light q2 june earning report.
seasonally/historically q2 has been the lightest quarter for past 3 years.
the best quarters are toward the winter holidays.
Current valuation is very attractive low PE, low price to sales.
Balance sheet has some debt, so its not excessively cheap in the balance sheet. its all about the earnings growth potential.
This year forward earnings is expected to be .24 cents, which is fantastic for a once 2.00 stock recently. 5 year potential eps is over 1.00, so for me this is a keep for long time.
Hard to say what a growing online streamer could be worth when bullishness kicks in and future growth starts to be anticipated. 20 pe? 30 pe? one can never predict this. All we control is buying value when we get a lot of weight for money paid.
RISKs- continued deflation in china, more competition. Currency devaluation and geopolitics still a major cloud. Yuan is rising now, but if real estate remains a burden, currency devaluation and increased stimulus might hurt the currency and total net returns to foreign investors.
Not advice for you, but I like the stock for me. Stands out on my ranking sheets.
Copper Gets Double Boost from China Stimulus & Fed Jumbo CutThe Fed’s outsized pivot last week and guidance for multiple cuts ahead helped copper’s recovery, as it increases chances of a soft landing for the worlds largest economy. Furthermore, lower rates are expected to bring mortgages down and help the real estate market.
Copper got a second boost this week, from a massive monetary stimulus package from China - the world’s top consumer. Authorities have been enhancing their efforts to prop the sputtering economy recently and the new measures constitute a step up. Crucially, these include lower mortgage rates on existing home loans and a reduction in rates for second homes, in further support for the ailing property sector.
These developments lead copper towards a third straight profitable week and the best month since April, with bulls now getting the opportunity to tackle 4.700. Along with the return of AI euphoria that drives the rebound of the chip industry (where copper is a critical component), there are prospects for further gains.
On the other hand, the Fed’s frontloading creates risk for inflation persistence and less cuts in the future, while China’s actions are in the right direction, but bolder measures are needed on the fiscal front. Furthermore, the move looks stretched technically so a pullback towards the EMA200 (black line) would not be unreasonable. However, the downside appears well protected and sustained weakness below the EMA200 looks hard.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”) (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website:
Stratos Markets Limited clients please see: www.fxcm.com
Stratos Europe Ltd clients please see: www.fxcm.com
Stratos Trading Pty. Limited clients please see: www.fxcm.com
Stratos Global LLC clients please see: www.fxcm.com
Past Performance is not an indicator of future results.
CHINA50 to continue in the upward move?CHN50 - 24h expiry
There is no clear indication that the upward move is coming to an end.
Although we remain bullish overall, a correction is possible with plenty of room to move lower without impacting the trend higher.
Risk/Reward would be poor to call a buy from current levels.
A move through 12250 will confirm the bullish momentum.
The measured move target is 12350.
We look to Buy at 12100 (stop at 12000)
Our profit targets will be 12300 and 12350
Resistance: 12250 / 12300 / 12350
Support: 12150 / 12100 / 12000
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
$FXI / $SPX | You Should Be Tracking ThisWe've been full bull China since early spring of this year and this chart here represents our macro thesis. We've posted about AMEX:FXI before and it's potential swing move of 75-100%...
This chart here is AMEX:FXI vs SP:SPX on macro HTF. We believe this chart represents a macro bottom of china relative US equities.
Last night, China announced a 50 bps rate cut with plans for additional rates cuts in the near future, as well as lowering existing mortgage rates. We've been expecting some govt influence and we finally got it.
HUGE move printing and we think it's just the beginning. We've been big on NYSE:BABA and OTC:PNGAY all year and they've been two of the big winners today.
Currently printing a macro 3M RSI bottom and looking to confirm it after q4 candle print.
This is a move that will likely take the rest of the decade to fully play out.
BIDU Daily Falling WedgeIn a very long falling consolidation with upside price targets of: 95, 97, 99 once the wedge breaks out. May require a fed easing policy to help out China.
Copper Supported by the Fed’s Jumbo CutAfter May’s record peak, copper prices slumped as demand optimism went away due to US and China economic fears, EV adoption slowdown and AI euphoria giving way to skepticism. However, copper staged a rebound, as China has been stepping up its effort to prop the economy, while AI optimism returned recently lifting tech and chip-making sectors. Furthermore US recession fears were quelled after the Fed slashed rates by a jumbo 0.5% last week and pointed to aggressive easing ahead, in what could be a boon for the property sectors where copper is used heavily.
These forces have helped the non-ferrous metal regain control above the EMA200, providing the launch pad for reclaiming the 4.500 handle. This would bring the summer high in the spotlight (4.700), although this level has a higher degree of difficulty.
On the other hand, the Fed’s frontloading creates risk of renewed inflation pressures that could lead to a shallower easing path, while China economic problems persist and the real estate sector remains in distress. Copper starts the current week on the back foot, unable to capitalize on its recent bounce. This sustains risk of sub-EMA200 moves that would pause the momentum, but the downside contains many buffers and prolonged weakness does not look easy, technically nor fundamentally.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”) (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website:
Stratos Markets Limited clients please see: www.fxcm.com
Stratos Europe Ltd clients please see: www.fxcm.com
Stratos Trading Pty. Limited clients please see: www.fxcm.com
Stratos Global LLC clients please see: www.fxcm.com
Past Performance is not an indicator of future results.
NIO (NIO): 55% Increase but Bearish Trends Still LoomA while back, we analyzed NIO, and recently, we’ve seen a considerable 55% increase in the stock price. However, despite this rise, nothing truly convinces us that this bearish trend has ended or that a sustainable upward movement is underway.
The critical factor here is that none of the key levels that need to be breached for a trend reversal have been crossed. Specifically, we’re looking at the current Wave ((iv)) level around $6.04. If this level isn’t breached, it’s likely that we could see further declines, possibly dipping into the $2.99 range—or even lower, potentially as far as $1. It may seem dramatic, but considering NIO has already dropped up to 62% since January, repeating such a decline isn’t out of the question.
In conclusion, the market remains quite weak, and we’re still cautious about the possibility of more significant setbacks. Always remember, it’s okay to stay on the sidelines and not invest in everything that catches your eye. 🤝
Why would it hold? BAIDU Big LevelChina stocks have been beaten up in recent years as the US equities leave them in their wake.
From hearing NVDA is larger than the entire china equity market, to China will always be in a bear market…are we finally into enough of support to see a material rally?
BIDU is hitting a monthly support . This also happens as the US markets could be running into a distribution phase.
Will the US Dollar staying below $102 help this emerging market company?
NIO Options Ahead of EarningsIf you haven`t sold the NIO`s speculative bubble:
bubble
Now analyzing the options chain and the chart patterns of NIO prior to the earnings report this week,
I would consider purchasing the 4usd strike price Calls with
an expiration date of 2024-9-6,
for a premium of approximately $0.24.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Is IBM's retreat from China a strategic gamble or a harbinger ofIBM's recent strategic decision to shutter its research and development center in China has sent ripples through the global tech industry. This move, coupled with the exodus of other American tech giants, has ignited a heated debate about the forces shaping the future of business in the world's second-largest economy.
Is IBM's retreat a calculated response to changing market dynamics, or is it a canary in the coal mine, signaling a broader shift in the geopolitical landscape? As we delve deeper into the intricacies of this decision, a complex picture emerges, one that challenges our understanding of the delicate interplay between business, politics, and economics.
IBM's withdrawal from China is not merely a corporate decision but a reflection of the evolving tensions between the world's two superpowers. The escalating trade wars, regulatory hurdles, and geopolitical uncertainties have created a challenging environment for foreign businesses, forcing them to reassess their strategies.
However, IBM's decision is also a strategic one, driven by factors such as cost optimization and a desire to focus on core competencies. By relocating its operations to regions with lower labor costs, IBM can enhance its profitability and allocate resources more efficiently.
As we navigate the complexities of this situation, it's imperative to recognize that IBM's retreat is not an isolated incident. It is a symptom of a broader trend, a reflection of the challenges faced by foreign companies operating in China. The economic slowdown, increased nationalism, and regulatory uncertainty have created a perfect storm that is forcing businesses to rethink their China strategies.
The future of business in China remains uncertain. IBM's decision is a stark reminder of the delicate balance between economic opportunities and geopolitical risks. As the world continues to evolve, it is essential for businesses to remain agile, adaptable, and prepared to navigate the challenges and seize the opportunities that lie ahead.
Luxury Stocks 6-month downtrend continuesWorries about slowdown in Chinese demand hitting luxury stocks. Bearishness increases on the street. Kering (Gucci owner) is at 7-year lows. Most probably will be cut but current indicated dividend yield reached 6%. #luxurystocks #lvmh #hermes #kering
$CNIRYY (August/2024)- China's annual inflation rate edged up to 0.6% in August 2024 from 0.5% in July,
falling short of market forecasts of 0.7%.
Still, it was the highest print since February,
marking the 7th straight month of consumer inflation amid supply issues due to flaming heat and pouring rains.
Food prices rose for the first time since June 2023, with their rate of increase the fastest in 19 months (2.8% vs flat reading in July) as fresh vegetables rebounded sharply.
Meanwhile, non-food prices increased 0.2% yoy, much slower than the prior 0.7%, on softer rises in cost of clothing (1.4% vs 1.5%), housing (flat reading vs 0.1%), health (1.3% vs 1.4%), and education (1.3% vs 1.7%).
At the same time, transport costs fell at a steeper rate (-2.7% vs -0.6%), with lower oil prices offsetting higher cost of utilities.
Core consumer prices, deducting food and energy costs, increased 0.3% yoy, the least since March 2021.
Monthly, the CPI rose 0.4%, the second month of gain but lower than consensus of 0.5%.
source: National Bureau of Statistics of China
