Chinese stocks dropped over half percent, just a day after astonishing rally. China’s central bank is releasing signals to investors, which short-term declines are no sure thing, especially in the run up to a crucial meeting at the end of this month. Only Non-ferrous Metal sector gains, while Light Manufacturing and Non-bank Financial sector leads the falls. Combined turnover for both markets is CNY 513.2 billion, down 9.21% dod.
|Close||% Change||Vol (bn CNY)||%YTD|
|Sector||Top 1||Led by||Top 2||Led by|
|Downward-leading||Light Manufacturing||603226||Non-bank Financial||000686|
*President Donald Trump said he’s personally holding up a trade deal with China and that he won’t complete the agreement unless Beijing returns to terms negotiated earlier in the year. “It’s me right now that’s holding up the deal,” Trump said at the White House before he left on a trip to Iowa. (Bloomberg)
*China Mobile said it will buy 10,100 smartphones from five domestic manufacturers for 5G testing — the first planned purchase after the leading carrier formally received a commercial license for the new technology last week. The phones would include 5,000 Huawei Mate 20Xs, 2,000 Xiaomi MIX3s, 2,000 ZTE A10 Pros, 1,000 Oppo Renos and 100 Vivo NEXs, China Mobile said this week. The carrier would also buy 5,000 Huawei CPE Pros and 2,000 ZTE CPEs, devices that convert 5G signals into Wi-Fi signals. (Caixin)
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