Greater China Macro Daily(Beta Mode)
Equities Slide as China Trade Data Looms
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| Shanghai Composite | 4,027.74 | -0.74% |
| CSI 300 | 4,816.92 | -1.79% |
| Hang Seng | 24,961.95 | -1.15% |
| TAIEX | 45,070.94 | -1.33% |
| USD/CNY | 6.77 | -0.12% |
| USD/HKD | 7.84 | +0.03% |
| Copper | 6.33 | +1.10% |
| Brent Crude | 94.35 | +1.35% |
| Gold | 4,349.90 | +0.30% |
| Bitcoin | 63,422.00 | +0.29% |
| China 2Y Govt Yield | - | - |
| China 10Y Govt Yield | - | - |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
China Exports YoY | Type: macro_line | Exports YoY %: 1.195 (2026-03-01) | Range: -13.41–39.86 | Trend(5pt): 20.5,4.577,1.416,5.768,1.195
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Exports Year-over-Year | 14.10 | 14.30 | 19:00 |
| Imports Year-over-Year | 25.30 | 25 | 19:00 |
| Trade Balance | 84,820m | 91,500m | 19:00 |
| Inflation Rate Year-over-Year | 1.20 | 1.30 | 17:30 |
| Inflation Rate Month-over-Month | 0.30 | - | 17:30 |
| Producer Price Index Year-over-Year | 2.80 | 3.80 | 17:30 |
- China equities fell sharply with CSI 300 down 1.79% ahead of trade figures.
- HKMA advances tokenized bond framework while tightening mainland account rules.
- Copper rebounds 1.10% on fresh China demand signals amid solar and EV shifts.
Yesterday's Recap
Mainland equities declined with Shanghai Composite closing at 4,027.74 (-0.74%) and CSI 300 at 4,816.92 (-1.79%). Hong Kong’s Hang Seng Index fell 1.15% to 24,961.95 while Taiwan’s TAIEX dropped 1.33% to 45,070.94. USD/CNY eased 0.12% to 6.77 as USD/HKD held the peg at 7.84.
China car sales slumped 22.1% in May, prompting the China Passenger Car Association to deepen its annual forecast cut. Copper rose 1.10% to 6.33 on renewed China buying while Brent crude gained 1.35% to 94.35. HKMA established a tokenized bond expert group to expand Hong Kong’s market infrastructure.
The Day Ahead
China will release May exports, imports and trade balance at 19:00 ET today with consensus pointing to modest export growth of 14.3% and a wider surplus of USD 91.5 bn. June 9 brings CPI and PPI prints expected to show mild inflation acceleration to 1.3% y/y alongside PPI at 3.8%. PBoC is scheduled to conduct routine 7-day reverse repo operations.
No rate decisions are due from HKMA or CBC this week. Semiconductor export data from Taiwan may provide additional color on supply-chain momentum.
Other Economic Notes
China’s solar sector is pivoting toward new growth areas after years of overcapacity pressure. EV makers face fresh regulatory pressure to reduce vehicle weight following battery-driven size increases. Property sales in major cities showed modest sequential improvement but remain far below pre-2024 levels.
Cross-strait trade talks produced no new restrictions, keeping investment flows stable. Brazil’s planned panda bond issuance in Shanghai highlights continued yuan internationalization efforts.
Global Macro News
Copper’s rebound reflects combined China restocking and US inventory flows supporting industrial demand. Brent crude strength may lift Taiwan’s inflation above CBC alert thresholds, reinforcing the case for future tightening. AI industry groups accuse China-linked actors of amplifying US data-center opposition on social media.
UOB sees USD/CNY confined to a narrow 6.7620–6.7980 band absent fresh policy signals. <i>↓ p.2</i>
