May 19, 2025, 11:53 GMT+7
(Reuters) - China and Hong Kong stocks sagged on Monday, as weak local data on industrial and retail sales highlighted ongoing economic challenges, although the Sino-U.S. tariff reprieve continued to lift shares of port operators.
** China's blue-chip CSI300 Indexdropped 0.4% by the lunch break, while the Shanghai Composite Index lost 0.1%. Hong Kong benchmark Hang Sengtraded 0.5% lower.
** China and Hong Kong markets have recovered ground lost since Donald Trump's "Liberation Day" tariffs in early April, as Beijing and Washington announced a 90-day tariff pause last week. But the rally appears to be losing steam.
** Official data showed on Monday that growth in China's industrial output and retail sales slowed in April, curbing risk appetite.
** Guosheng Securities cautioned investors against chasing stocks "before concrete evidence points to a better-than-expected economy."
** "Fluctuation within a wide range remains our base case scenario," the brokerage wrote.
** But shares of Chinese port operators continued to surge, as investors doubled down on bets that the 90-day tariff pause will spur a rush in shipment.
** Lianyungang Port, Ningbo Portand Zhuhai Portall hit their daily upward limit of 10%. Shares of other major port operators such as China Merchants Port Groupand Shanghai International Portalso rose sharply.
** "Exporters may continue to boost production and delivery in the next few months in case tariffs are hiked again down the road," said Zhiwei Zhang, president, Pinpoint Asset Management.
** China Securities Co analysts said the tariff reprieve may "spur a shipment rush that leads to a burst of businesses" for port operators.
** Hong Kong-listed shares of Midea Groupand ZTO Express jumped after the Hang Seng Indexes Co said they would be added to the Hang Seng Index early next month.
** Shares of China Literatureplunged more than 8%, on announcement it would be removed from the Hang Seng Tech Index

Sumber : Reuters