PRE-MARKET CHINESE STOCK NEWS: German government representatives and mobile carriers agreed on 5G regulation regarding Huawei in which a decision to exclude Chinese components was made

China Power International Development (2380 HK) - Co. sees 6-month profit attributable at CNY 2.68bln-2.87bln citing an increase in hydropower generation and others. (Newswires)

China Shipbuilding Industry (601989 CH) - Co. sees H1 net to increase 160.3%-201.9% Y/Y. (Newswires)

China State Construction Engineering (601668 CH) - Saudi’s Diriyah signs USD 2bln contract with El-Seif Engineering Contraction Co. and China State Construction Engineering to develop Diriyah. (Newswires)

CK Hutchison (1 HK) - Co. reportedly reviews options for European telecom assets, according to Reuters sources. (Newswires)

Great Wall Motor (601633 CH) - Co. sees H1 net to rise 377.5%-436.3% Y/Y. (Newswires)

SAIC Motor (600104 CH) - Co. Chairman Chen Hong resigned due to retirement age, while the board elected Wang Xiaoqiu as Chairman. (Newswires)

Shenzhen Gas (601139 CH) - Co. prelim. H1 net rose 13.6% Y/Y. (Newswires)

Huawei/Tech - German government representatives and mobile carriers agreed on 5G regulation regarding Huawei in which a decision to exclude Chinese components was made, according to Sueddeutsche Zeitung. (Newswires)

Metals - US and Mexico new import requirements on steel/aluminium are aimed at preventing an expected surge in transhipped products primarily from China with the US to require steel product imports from Mexico to be melted and poured in North America to avoid 25% Section 232 tariffs. (Newswires)

Geopolitical - NATO member countries said in a draft communique that China has become a decisive enabler of Russia’s war effort in Ukraine, increasing the threat Russia poses to Euro-Atlantic security, while NATO allies called on China to cease all material and political support for Russia’s war effort in Ukraine including the transfer of dual-use materials. (Newswires)

Other News

China’s securities regulator approved an increase to the margin requirement for securities lending from a minimum of 80% to 100%, while the move is to further strengthen the countercyclical adjustment of securities relending. (Newswires)

China's MOFCOM is to investigate EU trade barriers following the probe on Chinese firms with the investigation to occur through to 10th January 2025 and can be extended to April. (Newswires)

US Treasury Undersecretary Shambaugh said the US may need to take further action to protect US industries from China's industrial overcapacity and more creative approaches beyond Section 301 tariff adjustments may be necessary against China's overproduction and exports. (Newswires)

11 Jul 2024 - 02:12- MetalsResearch Sheet- Source: Newswires