real-time news and commentary for investors
Friday, Sep 27
Chinese industrial profits climb 24%
- The combined profits of large Chinese industrial firms jumped 24.2% on year in August to 483.17B yuan ($78.94B) as growth accelerated from 11.6% in July.
- In January-August, earnings climbed 12.8% to 3.5T yuan.
- Private companies led the way as income increased 16.2%, while that of state-owned firms rose 8%.
- The profit growth adds to other data indicating that China's economy is improving, although not everybody's convinced.
- Shares: China +0.2%, Hong Kong +0.3%.
- ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS, EWH, EWHS, FHK. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH.