Greater China Macro Daily(Beta Mode)
China Shares Slide on U.S.-China Tariff Deal
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| Shanghai Composite | 3,888.37 | -1.22% |
| CSI 300 | 4,439.14 | -1.73% |
| Hang Seng | 24,510.09 | -1.01% |
| TAIEX | 48,024.60 | -0.28% |
| USD/CNY | 6.70 | -0.11% |
| USD/HKD | 7.84 | +0.01% |
| Copper | 6.77 | +0.71% |
| Brent Crude | 97.44 | -8.59% |
| Gold | 4,321.20 | +0.54% |
| Bitcoin | 84,626.01 | +0.26% |
| China 2Y Govt Yield | - | - |
| China 10Y Govt Yield | - | - |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
China Exports Value | Type: macro_line | USD mn: 25.39 (2026-06-01) | Range: -14.55–39.64 | Trend(5pt): 28.5,-7.732,0.4113,7.56,25.39
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Shanghai Composite fell 1.22% to 3,888.37 while CSI 300 dropped 1.73% to 4,439.14 on thin volumes.
- US and China agreed to cut tariffs on $30 billion of non-sensitive goods and launch an AI dialogue channel after summit talks.
- Brent crude plunged 8.59% to 97.44 as USD/CNY eased 0.11% to 6.70 with HKD peg holding steady at 7.84.
Yesterday's Recap
Equity markets across Greater China posted broad losses on September 26 with no offsetting economic data releases from mainland China, Hong Kong or Taiwan. The Shanghai Composite closed at 3,888.37, down 1.22%, while the CSI 300 fell 1.73% to 4,439.14 amid limited domestic catalysts. Hong Kong’s Hang Seng Index declined 1.01% to 24,510.09 and Taiwan’s TAIEX eased 0.28% to 48,024.60.
USD/CNY traded 0.11% lower at 6.70, reflecting modest yuan support, while USD/HKD remained anchored at 7.84. Copper rose 0.71% to 6.77 as a China demand proxy, yet Brent crude’s sharp 8.59% drop to 97.44 weighed on sentiment. US-China summit outcomes dominated headlines, including a tariff reduction pact on $30 billion of goods and a new “super intelligence” AI dialogue to manage incidents.
No PBoC liquidity operations, HKMA interventions or CBC policy signals emerged during the session. China’s exchange-rate policy drew continued scrutiny for supporting exports amid global supply-chain shifts, with no fresh property stimulus reported.
The Day Ahead
The Greater China calendar remains empty through September 28 with zero scheduled releases or central-bank operations across mainland China, Hong Kong and Taiwan. Markets will track follow-through from the US-China tariff agreement and any early signals on implementation timelines. Attention may shift to ongoing yuan policy commentary and its implications for export competitiveness.
HKMA will continue monitoring USD/HKD peg mechanics amid stable aggregate balance levels. Taiwan semiconductor supply-chain flows face no immediate cross-strait disruptions but remain sensitive to broader US export-control updates. Investors should watch for any State Council liquidity guidance that could influence PBoC open-market operations later in the week.
Hong Kong property conversions of hotels into student dorms highlight ongoing hospitality weakness without altering broader market drivers.
Other Economic Notes
China’s exchange-rate policy continues to draw scrutiny for its role in supporting exports and reshaping supply chains amid global trade realignment. Hong Kong property owners are converting hotels into student dormitories to address accommodation shortages, highlighting persistent hospitality-sector weakness. ↓ p.2
