Chinese Shares Rise Despite Dip in Industrial Profit; Zhejiang China Commodities City Jumps 7%

MT Newswires Live

27 Mar

Chinese shares saw moderate gains on Thursday, even as data revealed a slight decline in industrial profits for the first two months of the year.

The Shanghai Composite Index, the main gauge of Chinese stocks, added 0.2%, or 5.05 points, to end Thursday's trade at 3,373.75. The Shenzhen Component Index likewise rose 0.2%, or 24.28 points, to 10,668.10.

The National Bureau of Statistics reported a 0.3% decrease in industrial profits for January and February. NBS statistician Yu Weining attributed the challenging environment for industrial enterprises to external factors, notably the tariffs imposed by US President Donald Trump.

Trump recently imposed a 25% tariff on imported vehicles. However, on Wednesday, Trump said he would be willing to lower tariffs on China to secure a deal with TikTok's Chinese parent Bytedance.

In corporate news, Zhejiang China Commodities City Group's (SHA:600415) shares climbed 7.2% after its 2024 attributable profit rose 15% year on year to 3.07 billion yuan and its operating income jumped 39% to 15.7 billion yuan.

Jiangsu Hengrui Medicine's (SHA:600276) shares closed 4.7% higher after securing approvals to trial a number of drugs, including SHR-9803 injection, which is a tumor drug.

Shanghai Junshi Biosciences' (HKG:1877, SHA:688180) Shanghai shares jumped 3.9% after receiving approval from China's National Medical Products Administration to market toripalimab injection, a drug for hepatocellular carcinoma.

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The Shenzhen Component Index likewise rose 0.2%, or 24.28 points, to 10,668.10.</p><p>The National Bureau of Statistics reported a 0.3% decrease in industrial profits for January and February. NBS statistician Yu Weining attributed the challenging environment for industrial enterprises to external factors, notably the tariffs imposed by US President Donald Trump.</p><p>Trump recently imposed a 25% tariff on imported vehicles. 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The Shenzhen Component Index likewise rose 0.2%, or 24.28 points, to 10,668.10.The National Bureau of Statistics reported a 0.3% decrease in industrial profits for January and February. NBS statistician Yu Weining attributed the challenging environment for industrial enterprises to external factors, notably the tariffs imposed by US President Donald Trump.Trump recently imposed a 25% tariff on imported vehicles. However, on Wednesday, Trump said he would be willing to lower tariffs on China to secure a deal with TikTok's Chinese parent Bytedance.In corporate news, Zhejiang China Commodities City Group's (SHA:600415) shares climbed 7.2% after its 2024 attributable profit rose 15% year on year to 3.07 billion yuan and its operating income jumped 39% to 15.7 billion yuan.Jiangsu Hengrui Medicine's (SHA:600276) shares closed 4.7% higher after securing approvals to trial a number of drugs, including SHR-9803 injection, which is a tumor drug.Shanghai Junshi Biosciences' (HKG:1877, SHA:688180) Shanghai shares jumped 3.9% after receiving approval from China's National Medical Products Administration to market toripalimab injection, a drug for hepatocellular carcinoma.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}