PPI y/y and m/m remained steady. PPI -0.2% m/m, with a -0.1% input prices and producer prices for consumption goods remained at +0.1%. Month-on-Month Analysis: Prices in the domestic oil and natural gas extraction industry rose by 3.0% due to international influences, while the prices for non-ferrous metal smelting and rolling industries dropped by 0.4%. Copper smelting prices decreased by 1.6%, and aluminum smelting prices fell by 0.2%. Coal prices remained stable, with th...
Gradual recovery in consumption and the rainy season help turn the CPI m/m to positive. The core CPI rose by 0.3% y/y, from -0.1%. Food prices rose by 1.2% y/y, from -0.6%. Vegetables and eggs rose by 9.3% and 4.4% y/y, due to bad weather. Pork prices rise by 20.4% y/y, vs +2.3 PPS vs June. For y/y price changes Food, tobacco & liquor +0.2% Clothing +1.7% Accomodation +0.1% Necessities & services +0.7% Transportation & Communication -0.6% Education, Culture & Entertainment ...
TENCENT will announce its 2Q results on August 14. Benefiting from game revenue growth in China, increased ad revenue from AI and video, and improved gross profit margins, 14 brokers expect TENCENT's 2Q24 non-IFRS net profit to be between RMB46.837 billion and RMB50.2 billion, marking a 24.7%-33.7% YoY increase. The median forecast is RMB48.11 billion, up 28.1% YoY. Additionally, 7 brokers expect TENCENT's net profit to range from RMB35.7 bill...
Jefferies reported on the latest approval of 105 domestic online games by the National Press and Publication Administration (NPPA) in July, highlighting ongoing support for the industry. $TENCENT (00700.HK)$Highlights: Top Performer: Tencent's Dungeon and Fighter Mobile (DNF Mobile) has consistently led the iOS game revenue chart. Revenue Forecast: Jefferies revised the expected revenue for DNF Mobile from RMB19 billion to RMB24 billi...
The services sector extended the period of expansion that commenced in January 2023, albeit at a pace that remained below the year-to-date average. Incoming new business increased at a solid pace in July, supported by sustained improvements in underlying demand conditions and an expansion of service offerings. Export business also expanded, attributed to rising interest from overseas clients and growth of tourism activity, the rate of export business expan...
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PPI -0.2% m/m, with a -0.1% input prices and producer prices for consumption goods remained at +0.1%.
Month-on-Month Analysis:
Prices in the domestic oil and natural gas extraction industry rose by 3.0% due to international influences, while the prices for non-ferrous metal smelting and rolling industries dropped by 0.4%. Copper smelting prices decreased by 1.6%, and aluminum smelting prices fell by 0.2%.
Coal prices remained stable, with th...
The core CPI rose by 0.3% y/y, from -0.1%.
Food prices rose by 1.2% y/y, from -0.6%.
Vegetables and eggs rose by 9.3% and 4.4% y/y, due to bad weather.
Pork prices rise by 20.4% y/y, vs +2.3 PPS vs June.
For y/y price changes
Food, tobacco & liquor +0.2%
Clothing +1.7%
Accomodation +0.1%
Necessities & services +0.7%
Transportation & Communication -0.6%
Education, Culture & Entertainment ...
The 2Q24 net profit of chip stocks $SMIC (00981.HK)$ / $HUA HONG SEMI (01347.HK)$ fell 59%/ 91%+ YoY, and their share prices mounted 7.3%/ 2.7%. HUA HONG SEMI decreas...
Additionally, 7 brokers expect TENCENT's net profit to range from RMB35.7 bill...
$TENCENT (00700.HK)$ Highlights:
Top Performer: Tencent's Dungeon and Fighter Mobile (DNF Mobile) has consistently led the iOS game revenue chart.
Revenue Forecast: Jefferies revised the expected revenue for DNF Mobile from RMB19 billion to RMB24 billi...
$NEW ORIENTAL-S (09901.HK)$ increased buyback to USD700 million and p...
Metals in Shanghai continue their fall, silver is down 5.7%, copper -3.3%, zinc and tin -2.9%.
$CSI 300 Index (000300.SH)$ $Hang Seng TECH Index (800700.HK)$ $Hang Seng Index (800000.HK)$ $CNOOC (00883.HK)$ $China Mobile Limited (600941.SH)$ $CCB (00939.HK)$ $China Construction Bank Corporation (601939.SH)$ $ABC (01288.HK)$ $Agricultural Bank Of China (601288.SH)$
Caixin July. Composite PMI 51.2 [Prev. 52.8]
*The services sector beat expectations but could not offset the negative impact from the manufacturing sector, the composite PMI was the weakest in 9 months.
$Hang Seng Index (800000.HK)$ $Hang Seng TECH Index (800700.HK)$ $BABA-SW (09988.HK)$ $TENCENT (00700.HK)$ $MEITUAN-W (03690.HK)$ $BIDU-SW (09888.HK)$ $KraneShares CSI China Internet ETF (KWEB.US)$
$TENCENT (00700.HK)$ incremented 0.3% to $359.2 after China approved 75 imported online games, including Rainbow Six Siege agented by TENCENT.
As for other tech stocks, $BABA-SW (09988.HK)$ closed the half-day flat ...
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