ETNet News Agency reported on the 8th: A-shares resumed trading after China's National Day holiday, with the three major indices showing mixed performances. The SSE Composite Index opened 0.08% lower at 3,838.98 points, the Shenzhen Component Index opened 0.07% higher, and the ChiNext Index opened 0.17% higher. Sino-European relations saw developments; despite Beijing's long-standing lobbying efforts to ease relations with the EU, the European Parliament voted on Wednesday (the 7th) to adopt a resolution advocating a tougher stance toward China.
Although the document will not directly affect EU policy toward China, the move indicates a growing consensus within the EU for a tougher approach. Bloomberg reported that the EU is preparing to restrict Chinese hybrid vehicles from entering the EU market, imposing tariffs on products exceeding certain import volumes in an effort to rebalance trade with China.
Domestically, data from the Ministry of Transport showed that during the National Day holiday period (October 1-7), the total inter-regional mobility of the entire society is estimated to have reached 2.144 billion trips, averaging 306 million trips per day, an increase of 0.7% compared to the same period last year's Mid-Autumn and National Day holidays. While travel data remained stable, consumption growth was limited. Citigroup earlier issued a report indicating that preliminary data from the Golden Week holiday suggests weakening per capita spending in retail and tourism. Consumer stocks declined after the market opened.
Today, the PBOC conducted zero 7-day reverse repo operations but carried out 606 billion yuan (RMB, same below) of overnight reverse repo operations. There are 1.2145 trillion yuan of reverse repos maturing in the open market today, resulting in a net withdrawal of 608.5 billion yuan. This week, 1.2145 trillion yuan of reverse repos will mature in the open market, all of which will mature on October 8 due to the National Day holiday. (ry)
Although the document will not directly affect EU policy toward China, the move indicates a growing consensus within the EU for a tougher approach. Bloomberg reported that the EU is preparing to restrict Chinese hybrid vehicles from entering the EU market, imposing tariffs on products exceeding certain import volumes in an effort to rebalance trade with China.
Domestically, data from the Ministry of Transport showed that during the National Day holiday period (October 1-7), the total inter-regional mobility of the entire society is estimated to have reached 2.144 billion trips, averaging 306 million trips per day, an increase of 0.7% compared to the same period last year's Mid-Autumn and National Day holidays. While travel data remained stable, consumption growth was limited. Citigroup earlier issued a report indicating that preliminary data from the Golden Week holiday suggests weakening per capita spending in retail and tourism. Consumer stocks declined after the market opened.
Today, the PBOC conducted zero 7-day reverse repo operations but carried out 606 billion yuan (RMB, same below) of overnight reverse repo operations. There are 1.2145 trillion yuan of reverse repos maturing in the open market today, resulting in a net withdrawal of 608.5 billion yuan. This week, 1.2145 trillion yuan of reverse repos will mature in the open market, all of which will mature on October 8 due to the National Day holiday. (ry)
