Çin’de hükûmet desteği sinyali piyasalarda yükselişi tetikledi; küresel likidite ise tatil nedeniyle temkinli

Kısaca

Çin hisse senetleri yükseldi; Şanghay Kompoziti 0,1% artış gösterdi Hang Seng 0,6% düştü; Vanke yaklaşık %8 yükseldi ABD tahvil getirileri baskısını sürdürdü ve tatil nedeniyle işlem hacmi daraldı

Ana mesele

Çin hükûmeti(counter-cyclical) destek vaadiyle büyümeyi güçlendirmeyi hedefliyor

Ne değişti?

Hükûmetin mevcut politikaların uygulanması ve altyapı projelerinin hızlandırılması taahhütleriyle piyasaların desteğe karşı reaksiyonu güçlendi

Beni nasıl etkiler?

Okuyucuya: Çin piyasalarındaki hassasiyet ve politika adımları yakından izlenmeli

Ne oldu?

Çin hükûmeti counter-cyclical desteği artırma sözü verdi; Şanghay ve CSI300 genel olarak sınırlı yükseliş gösterdi

Neden şimdi?

Yıl sonu tatili yaklaşırken işlem hacmi daralmışken politikadaki netikler yatırımcı güvenini etkiledi

Neden önemli?

Politika yönelimleri küresel risk iştahını ve Çin dışı piyasalarda sermaye akışını etkileyebilir

Kimler etkileniyor?

• yatırımcılar
• kurumsal alıcılar

Sektör ve piyasa etkisi

finans ve teknoloji hisseleri kısa vadede dalgalı seyredebilir; konut ve altyapı hisseleri ise toparlanma isteğiyle hareketlenebilir

Riskler

• ABD tahvil getirilerinin yüksek kalması
• piyasa hacminin tatil nedeniyle daralması
• politikaların uygulanması konusunda belirsizlik

Takip edilmesi gerekenler

• yeni politika adımlarının uygulanabilirliği
• altyapı projelerinin hızlanması
• konut piyasasında ek adımların duyurusu

Haberin tamamı

China's mainland stocks edged higher on Tuesday after the country's cabinet pledged to step up counter-cyclical policy support to address mounting economic pressures, although trading remained subdued ahead of the week-long National Day holiday. Hong Kong shares declined.The Shanghai Composite gained 0.1% by lunch break, while the blue-chip CSI300 index was broadly flat.

In Hong Kong, the Hang Seng benchmark fell 0.6%.Chinese property developers led gains onshore after a State Council meeting pledged measures to stabilise the housing market. Vanke shares climbed nearly 8%, making the developer one of the strongest performers in the mainland market.Read more: Global Market: RoboTechnik slides below IPO price in weak Hong Kong debutThe State Council's latest commitment follows a broader push by Beijing to strengthen support for growth as economic momentum slows.

The cabinet on Monday called for more effective implementation of existing policies, faster issuance and use of government bonds and accelerated construction of major infrastructure projects.The government is also considering additional measures for the housing market, employment and household incomes, while expanding relending facilities for technology innovation, industrial upgrades, agriculture and small businesses, Reuters reported.Read more: Global Market: Nikkei falls as oil surge, global bond selloff rattle marketsGoldman Sachs analysts expect policymakers to expand the use of housing provident funds and for more major cities to introduce measures aimed at easing local property markets.Investor sentiment toward artificial-intelligence component makers also improved.

The 5G Communication Index rose 0.8%, while the technology-focused STAR50 index gained 0.6%.However, broader market sentiment remained constrained by rising US Treasury yields and limited liquidity ahead of the holiday, according to analysts at Northeast Securities. US 10-year Treasury yield climbed to a 19-year high above 5.27%, adding pressure to Asian equities.China's National Day holiday begins on Thursday, with mainland markets scheduled to resume trading on October 8.

The approaching break contributed to thin trading conditions.In Hong Kong, the Hang Seng Innovative Drug Index rose 3.3%, while the Hang Seng Tech Index fell 1.4%, reflecting weakness among major technology companies.Shares of fast-fashion retailer Shein Global Holdings fell to their lowest level since the company's September 1 Hong Kong debut.

Reuters reported that the stock had fallen more than 6% on Tuesday after Shein disclosed a 67% decline in quarterly profit, with higher jet-fuel and freight costs weighing on margins.The mixed performance came against a broader backdrop of pressure on Asian markets from elevated oil prices and global bond yields.

Brent crude rose to around $107 a barrel on Tuesday as concerns over Middle East supply disruptions persisted.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

Kaynaklar

• Economic Times - Markets