ANL 15.28 Decreased By ▼ -0.60 (-3.78%)
ASC 13.07 Decreased By ▼ -0.43 (-3.19%)
ASL 17.60 Decreased By ▼ -0.70 (-3.83%)
BOP 8.75 Decreased By ▼ -0.13 (-1.46%)
BYCO 7.17 Decreased By ▼ -0.18 (-2.45%)
FCCL 18.87 Increased By ▲ 0.78 (4.31%)
FFBL 22.91 Decreased By ▼ -0.19 (-0.82%)
FFL 15.20 Decreased By ▼ -0.10 (-0.65%)
FNEL 7.07 Decreased By ▼ -0.04 (-0.56%)
GGGL 16.36 Decreased By ▼ -0.50 (-2.97%)
GGL 27.14 Decreased By ▼ -1.01 (-3.59%)
HUMNL 6.70 Increased By ▲ 0.06 (0.9%)
JSCL 19.15 Decreased By ▼ -0.45 (-2.3%)
KAPCO 26.75 Decreased By ▼ -0.25 (-0.93%)
KEL 3.38 Decreased By ▼ -0.05 (-1.46%)
MDTL 2.19 Increased By ▲ 0.01 (0.46%)
MLCF 35.51 Increased By ▲ 0.50 (1.43%)
NETSOL 99.79 Decreased By ▼ -3.96 (-3.82%)
PACE 4.22 Increased By ▲ 0.04 (0.96%)
PAEL 26.80 Decreased By ▼ -0.35 (-1.29%)
PIBTL 8.12 Decreased By ▼ -0.08 (-0.98%)
POWER 7.10 Increased By ▲ 0.17 (2.45%)
PRL 15.99 Decreased By ▼ -0.45 (-2.74%)
PTC 9.07 Decreased By ▼ -0.01 (-0.11%)
SILK 1.47 Decreased By ▼ -0.03 (-2%)
SNGP 40.17 Decreased By ▼ -0.58 (-1.42%)
TELE 16.55 Decreased By ▼ -0.59 (-3.44%)
TRG 126.00 Decreased By ▼ -4.36 (-3.34%)
UNITY 28.11 Decreased By ▼ -1.79 (-5.99%)
WTL 2.31 Decreased By ▼ -0.12 (-4.94%)
BR100 4,711 Decreased By ▼ -52.42 (-1.1%)
BR30 20,314 Decreased By ▼ -357.09 (-1.73%)
KSE100 45,491 Decreased By ▼ -330.58 (-0.72%)
KSE30 17,838 Decreased By ▼ -168.22 (-0.93%)

Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,344
1624hr
Pakistan Cases
1,267,393
56724hr
1.45% positivity
Sindh
466,945
Punjab
438,636
Balochistan
33,159
Islamabad
106,615
KPK
177,240

SHANGHAI: China stocks were mixed on Thursday as investors turned cautious about the country's monetary policy trajectory as factory gate inflation hit record highs, while new bank lending fell short of expectations.

** At the midday break, the Shanghai Composite index was up 0.15% at 3,567.14 points, while the blue-chip CSI300 index was down 0.31%.

** China's annual factory gate prices grew at their fastest pace on record in September, driven by energy curbs and soaring commodity prices, piling pressure on businesses already grappling with supply bottlenecks.

China stocks rise as strong trade data ease slowdown fears

** "We think the risk of stagflation is rising in China as well as the rest of the world," said Zhiwei Zhang, chief economist, Pinpoint Asset Management. "The ambitious goal of carbon neutrality puts persistent pressure on commodity prices, which will be passed to downstream firms."

** "Persistent inflationary pressure limits the potential scope of monetary policy easing," he added.

** Some economists believe more monetary and fiscal support are needed after official data on Wednesday showed that new bank lending in China accelerated in September from the previous month but fell short of expectations.

** The financial sub-index eased 0.9%, the consumer staples sector fell 1%, the real estate index dropped 2.71% and the healthcare sub-index lost 2.2%.

** However, the aviation sector outperformed the market on hopes of new COVID-19 treatments leading to a rebound in travel demand.

** Air China Ltd gained as much as 6.5%, while Shanghai International Airport, Juneyao Airlines , Spring Airlines, China Southern Airlines and China Eastern Airlines also advanced.

** Merck & Co said it had applied for US emergency use authorization for its drug to treat mild-to-moderate patients of COVID-19, putting it on course to become the first oral antiviral medication for the disease.

** Hong Kong's financial markets are closed for the Chung Yeung Festival on Thursday.

Comments

Comments are closed.