China Stocks Whipsaw After Soft Data
2024-10-15
Summary:
China's A50 index was flat Tuesday as disappointing data revealed a decline in September consumer inflation and deeper producer price deflation.
China's A50 index traded sideways on Tuesday after data disappointed. Consumer inflation rate fell in September, while producer price deflation deepened. That underlined flagging demand and confidence.
Export growth slowed sharply in the month while imports unexpectedly decelerated, undershooting forecasts. China unveiled fiscal stimulus at the weekend given increasing tariffs from the west.
A Chinese exchange-traded fund tracking the tech-heavy ChiNext Index drew the largest inflow among ETFs worldwide last week, as retail investors chased returns based on the technological independence policy.
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