Greater China Macro Daily(Beta Mode)
China Equities Advance as Yuan Firms, Copper Climbs
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| Shanghai Composite | 3,822.28 | +0.33% |
| CSI 300 | 4,600.93 | +0.28% |
| Hang Seng | 26,009.40 | +0.48% |
| TAIEX | 43,386.41 | +0.62% |
| USD/CNY | 6.74 | -0.16% |
| USD/HKD | 7.84 | +0.01% |
| Copper | 6.63 | +1.80% |
| Brent Crude | 78.69 | -6.06% |
| Gold | 4,134.20 | +2.49% |
| Bitcoin | 64,106.79 | +1.02% |
| China 2Y Govt Yield | - | - |
| China 10Y Govt Yield | - | - |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Shanghai Composite Index | Type: market_hloc | Index Level: 3810 (2026-08-03) | Range: 3764–4243 | Trend(6pt): 4160,4094,4108,4037,3805,3810
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Ratingdog Services PMI Index | - | 53.70 | 17:45 |
| Exports Year-over-Year | 27 | 22.70 | 19:00 |
| Imports Year-over-Year | 36 | 28.60 | 19:00 |
| Trade Balance | 125,620m | 108,000m | 19:00 |
| Inflation Rate Year-over-Year | 1 | - | 17:30 |
| Inflation Rate Month-over-Month | -0.30 | - | 17:30 |
| Producer Price Index Year-over-Year | 4.10 | - | 17:30 |
- Shanghai Composite rose 0.33% and CSI 300 gained 0.28% on improved risk sentiment.
- USD/CNY declined 0.16% to 6.74 while copper jumped 1.80% as a China growth proxy.
- Ratingdog Services PMI due today with consensus at 53.7, ahead of this week's trade and CPI prints.
Yesterday's Recap
Greater China equity markets posted modest gains on August 3 with limited domestic data releases. The Shanghai Composite closed at 3,822.28, up 0.33%, while the CSI 300 advanced 0.28% to 4,600.93. In Hong Kong the Hang Seng Index rose 0.48% to 26,009.40, and Taiwan's TAIEX increased 0.62% to 43,386.41.
The onshore yuan strengthened as USD/CNY fell 0.16% to 6.74, and USD/HKD held steady at 7.84. Copper prices surged 1.80% to 6.63, reflecting improved sentiment toward mainland industrial demand, while Brent crude dropped 6.06% and gold rose 2.49% to 4,134.20. Bitcoin gained 1.02% amid broader risk-on flows.
No major mainland, Hong Kong or Taiwan macro releases occurred, leaving market moves driven by external positioning ahead of the services PMI. Chip-tool maker AMEC flagged first-half profit nearly quadrupling on strong demand, underscoring semiconductor supply-chain resilience that supported selective equity buying in Taiwan and Hong Kong.
The Day Ahead
Markets will focus on the Ratingdog Services PMI release scheduled for 17:45 ET today, with consensus at 53.7. The print will provide an early read on August service-sector momentum in mainland China following mixed July signals. Later in the week, attention shifts to August 6 export, import and trade-balance data, where consensus points to a slowdown in export growth to 22.7% year-over-year from 27% previously, with imports seen easing to 28.6% from 36% and the trade surplus narrowing to $108 billion.
August 8 brings mainland CPI and PPI releases, with the last verified CPI YoY reading at 1.20% as of May. Hong Kong and Taiwan calendars remain light, though any semiconductor export commentary from Taipei could influence TAIEX flows. Traders will also monitor liquidity operations from the PBoC for any signals ahead of the data cluster.
Over 1,000 applicants registered for Hong Kong's new taxi and ride-hailing test, illustrating steady domestic service-sector activity that the PMI may echo.
Other Economic Notes
Mainland property-sector dynamics remain a key drag on domestic demand despite equity stabilization. Semiconductor supply chains continue to draw policy focus in Taiwan, where export linkages to the US and Europe shape CBC considerations. <i>↓ p.2</i>
