Market Updates
China Inflation Indicators Confirm Persistent Deflationary Trend
Li Chen
09 Dec, 2024
Hong Kong
Stock market indexes in China and Hong Kong declined in Monday's trading after the release of the latest inflation data.
China's latest consumer and producer price inflation confirmed the ongoing deflationary trends, raising expectations of additional stimulus measures following the key policy meeting later in the week.
The annual consumer price inflation in November slowed to 0.2% from 0.3% in October, a five-month low, confirming that the slew of fiscal and monetary stimulus measures may take longer to revive weak consumer sentiment.
Core inflation, which excludes volatile food and energy prices, rose annual 0.3%, following 0.2% rise in October.
Producer price inflation declined at a slower pace of 2.5% in November compared to the fall of 2.9% in October, marking the 26th consecutive month of deflation.
On Monday, the National Bureau of Statistics released two inflation indicators in separate reports.
China Stock Movers
The Hang Seng index decreased 0.4% to 19,784.47, and the mainland-focused CSI 300 index declined 0.2% to 3,967.30.
New Oriental Education and Kuaishou fell on the first day of trading after both stocks were added to the Hang Seng index.
New Oriental Education declined 2.7% to HK $48.30, and Kuaishou Technology dropped 2.9% to HK $46.20.
Property stocks were in focus ahead of the key economic policy meeting chaired by President Xi Jinping later in the week.
China Vanke Co. Ltd. decreased 3.4% to HK $6.25, China Resources Land fell 1.8% to HK $23.30, Longfor Group Holdings dropped 2.5% to HK $10.92, and New World Development Co. Ltd. eased 2.3% to HK $6.33.
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