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| HSI1 | 23,093.37 | +158.69 | 249.78B |
| HSCEI1 | 7,756.25 | +67.06 | 87.14B |
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2026-10-22 17:20:02 JPMorgan published a research report stating that China's National Bureau of Statistics data for September weakened further, mainly due to continued weakness in the property sector and fixed asset investment performance, exacerbating investor concerns over domestic commodity demand and weighing on sector sentiment. The MSCI China Materials Index has fallen 4.5% month-to-date, compared with a 2.3% decline in the HSCEI over the same period. JPMorgan said that most 3Q results from gold, lithium and coal stocks recently came in below market expectations. The broker currently favors the copper sector most, followed by gold, and continues to list ZIJIN MINING (02899.HK) as its top pick with an Overweight rating and a TP of HKD50. The broker expects the company to benefit from dual exposure to copper and gold, strong business execution capabilities and attractive valuation. Sentiment in the lithium industry remains weak. The broker believes this is affected by limited visibility on downstream production, as well as uncertainty surrounding the European Union's import quota policies for hybrid and plug-in hybrid vehicles. China's property new starts in September fell 26% YoY, while completions deteriorated further to a 37% YoY decline (vs a 29% YoY decline in August). Real estate development investment fell 27% YoY. JPMorgan expects construction activity to remain sluggish throughout 2026 and extend into 2027, forecasting new starts to decline about 30% YoY in 2027, while completions and real estate investment are expected to fall about 20% YoY.(gc/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |