China Stocks Mixed After Weak PMI Data
Chinese stocks showed mixed performance on Monday, as the Shanghai Composite rose 0.3% to above 3,260, while the Shenzhen Component dropped 0.6% to 10,230.
Mainland stocks struggled for clear direction as investors digested disappointing economic data. Factory activity in China unexpectedly contracted in January, and growth in the services sector slowed significantly. However, industrial profits for December saw a notable 11% increase year-over-year, marking the first rise since July.
On a more positive note, China introduced new initiatives on Sunday aimed at boosting the growth of equity and bond ETFs, as part of its broader efforts to support the struggling stock market.
Among the notable gainers were Hand Enterprise (up 4.2%), Visual China Group (up 10%), and TRS Information (up 17.5%). Conversely, sharp losses were seen in stocks like East Money (-3.3%), ZTE Corp (-4.7%), and Zhongji Innolight (-7.5%).
Source : Trading Economics
