AGL 37.62 Decreased By ▼ -0.53 (-1.39%)
AIRLINK 122.00 Increased By ▲ 0.49 (0.4%)
BOP 5.72 Decreased By ▼ -0.13 (-2.22%)
CNERGY 3.71 Decreased By ▼ -0.04 (-1.07%)
DCL 8.32 Decreased By ▼ -0.08 (-0.95%)
DFML 40.72 Decreased By ▼ -0.17 (-0.42%)
DGKC 84.60 No Change ▼ 0.00 (0%)
FCCL 33.25 Increased By ▲ 0.55 (1.68%)
FFBL 65.50 No Change ▼ 0.00 (0%)
FFL 9.92 Decreased By ▼ -0.13 (-1.29%)
HUBC 103.79 Decreased By ▼ -0.01 (-0.01%)
HUMNL 13.23 Decreased By ▼ -0.02 (-0.15%)
KEL 4.41 Decreased By ▼ -0.02 (-0.45%)
KOSM 7.05 Decreased By ▼ -0.04 (-0.56%)
MLCF 37.70 Increased By ▲ 0.20 (0.53%)
NBP 59.86 Decreased By ▼ -0.39 (-0.65%)
OGDC 175.19 Increased By ▲ 2.94 (1.71%)
PAEL 24.85 Increased By ▲ 0.05 (0.2%)
PIBTL 5.73 Increased By ▲ 0.03 (0.53%)
PPL 145.97 Increased By ▲ 4.28 (3.02%)
PRL 22.77 Increased By ▲ 0.05 (0.22%)
PTC 14.97 Increased By ▲ 0.23 (1.56%)
SEARL 65.14 Increased By ▲ 0.58 (0.9%)
TELE 7.04 Decreased By ▼ -0.10 (-1.4%)
TOMCL 35.65 Increased By ▲ 0.15 (0.42%)
TPLP 7.32 Increased By ▲ 0.03 (0.41%)
TREET 13.95 Decreased By ▼ -0.25 (-1.76%)
TRG 50.90 Decreased By ▼ -0.85 (-1.64%)
UNITY 26.40 Decreased By ▼ -0.20 (-0.75%)
WTL 1.22 No Change ▼ 0.00 (0%)
BR100 9,543 Increased By 59.5 (0.63%)
BR30 28,579 Increased By 208.3 (0.73%)
KSE100 89,476 Increased By 509.4 (0.57%)
KSE30 27,943 Increased By 115.8 (0.42%)

SHANGHAI: China stocks ended slightly higher on Thursday, led by property shares, as the country’s manufacturing activities returned to growth in October, while traders await a key leadership meeting for details on more potential stimulus. Hong Kong shares closed down.

China’s blue-chip CSI300 Index closed roughly flat, while the Shanghai Composite Index rose 0.4%. Hong Kong’s benchmark Hang Seng index edged down 0.1%.

China’s manufacturing activity in October expanded for the first time in six months, an official factory survey showed.

“I expect the economic momentum to improve moderately in Q4 as monetary and fiscal policies loosened,” said Zhiwei Zhang, chief economist at Pinpoint Asset Management.

“We will find out more hints from Beijing on the policy outlook after the US election.” Property shares led the gains in both onshore and offshore markets, up 3.2% and 1.4%, respectively.

Investor sentiment towards China’s equity market has cooled since mid-October, following a sharp rally in late September. Market focus is now on next week’s National People’s Congress Standing Committee (NPCSC) meeting and the US election.

“China onshore mutual fund investors think it’s difficult to set up a huge size fiscal stimulus target which will break deficit in short term,” UBS analysts said in a note to investors.

In the NPCSC next week, the sustainability and transparency of fiscal policy will be more important to sustain the upward equity market trend, the analysts from UBS said, adding that investors think more meaningful fiscal policy should be released at the Central Economic Work Conference in December.

Meanwhile, Reuters reported that China had told its automakers to halt big investment in European countries that support extra tariffs on Chinese-built electric vehicles.

Comments

200 characters