JKB Financial Services Ltd.

As on : 17-Jan-2025

Market Commentary - Foreign Markets
17-Jan-2025 17:45

Chinese stocks end modestly higher amid raft of data releases

Chinese stocks ended with modest gains though Trump tariff fears offset upbeat Chinese economic cues and capped upside. China's Shanghai Composite index closed up 0.18% at 3,241.82. Latest data showed that China’s GDP expanded 5.4% year-on-year in the fourth quarter, bettering the 4.6% growth in the third quarter. For the whole year of 2024, the economy saw an expansion of 5%, in line with the official growth target.

Further data showed that industrial production rose 6.2% in December, while Retail sales improved an annual 3.7%. Fixed asset investment was higher by 3.2% year-on-year in 2024 while Property investment was down 10.6% in 2024 from the last year. China’s jobless rate rose slightly to 5.1% in December from 5% in November.

Meanwhile, Hong Kong's Hang Seng index edged up by 0.31 percent to 19,584.06.

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