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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
economy-ss-8
Inflation Update: Weak demand softens shocks
July 4, 2025 DOWNLOAD
948 x 535 px AdobeStock_433552847
Economic Updates
Monthly Economic Update: Fed cuts incoming   
June 30, 2025 DOWNLOAD
equities-3may23-2
Consensus Pricing
Consensus Pricing – June 2025
June 25, 2025 DOWNLOAD
View all Reports
Economy 2 MIN READ

China, HK shares post best month in six on support to private sector

July 31, 2023By Reuters
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HONG KONG, July 31 (Reuters) – Hong Kong and China stocks extended gains on Monday to close their best month since January, as a slew of supportive measures rolled out by the Chinese government boosted sentiment, particularly in the private sector.

** Hang Seng Index rose 0.82% and Hang Seng China Enterprises Index jumped 1.33%.

** China’s CSI 300 Index gained 0.55%, while the Shanghai Composite Index climbed 0.46%.

** Both benchmarks logged their best performance in six months, with Hang Seng surging 6% and China’s CSI 300 jumping 4.5%, repetitively.

** Hang Seng Tech Index went up 1.9% and soared 16% this month, marking the strongest month since the reopening rally in November.

** The official manufacturing purchasing managers’ index (PMI) inched up to 49.3 in July from 49.0 in June, staying below the 50-point mark that separates expansion from contraction.

** Acknowledging the weak economy, China has stepped up stimulus measures to boost confidence, though details so far have been sparse.

** China’s State Council on Monday issued measures to restore and expand consumption in the automobile, real estate and services sector, aiming to give full play to the “fundamental role” of consumption in economic development.

** Biggest cities, including Beijing and Shenzhen, said over the weekend they would implement measures to better meet the needs of homebuyers.

** Meanwhile, an opinion piece in the state-backed People’s Daily vowed to create a ‘bigger, better, and stronger’ private sector.

** The key to watch in the coming weeks are the property sector policies, analysts said.

** We believe the Chinese government will continue to gradually introduce more supportive policies for the ailing property sector as required, said Philip Meier, multi-asset portfolio manager at Gramercy.

** “The chances for a sustained recovery are the highest if the upcoming measures can create a virtuous cycle for the sector.”

** While Beijing’s recent moves should be encouraged, markets need to curb their enthusiasm regarding the scale and impact of these easing measures, Nomura chief China economist Ting Lu warned.

** Hong Kong-listed mainland property stocks erased gains in the morning and closed down 1.8%.

(Reporting by Summer Zhen; Editing by Janane Venkatraman and Varun H K)

This article originally appeared on reuters.com

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