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Chinese Manufacturing Figures Can Test Market Strength

Manufacturing figures from China on Monday can test the strength of the stock market. 

CHI50 – Weekly Chart

CHI50 – Weekly Chart 

The price of CHI50 has failed to get above the downtrend support and that level is vital for Monday’s data release. 

Chinese NBS manufacturing is released at 9:30am HKT with market watchers expecting a reading of 50.1. The 50 level is the difference between expansion and contraction and will be important for the market’s path this week. 

Alongside the figures, investors are still wary of the coming actions on tariffs from Donald Trump. The new US President said he was considering a new 10% tariff on Chinese imports from as early as February 1. Trump also proposed new 25% tariffs on Mexico and Canada. 

Beijing said last week that it was “firmly committed to safeguarding national interests”. China’s Foreign Ministry spokesperson Mao Ning added that, “there are no winners in a trade or a tariff war”. 

However, investors have been soothed by the early inaction from Trump on tariffs and he said that the two nations can have a “very good relationship” in the coming years. 

“China realizes that there’s an opportunity to negotiate with Trump,” said Liu Dongshu of the City University of Hong Kong. “And a better US-China relationship is more important to China than to the United States”. 

The Shanghai Composite is in need of a new boost after the 2024 stimulus rally faded. A manufacturing boost would help ahead of the Chinese New Year.

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.

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