Page 3 - A Share News Today

More than 80 percent of A-share companies listed on the Shenzhen and Shanghai stock exchanges made profits in the first quarter of 2023, thanks to expansion in domestic demand as well as science and technological advances amid Chinas digital transformation.

Money managers are delivering big gains for investors on the back of China’s drive for self-sufficiency in advanced technology. There is more to come, as a new innovation cycle is only starting to take off.

Stocks weaken as corporate insiders at Tencent and BYD continue to offload their stakes in the open market. Alibaba Group and Baidu slide as China tightens rules on ChatGPT-like services on security concerns.

Nearly 60 companies with investment from Taiwan island-based businesses are listed in Chinese mainland’s A-share market, as the mainland supports the listing of eligible Taiwan-invested firms, and provides diversified and efficient financial services for them, an official said on Wednesday.

Hedge funds’ affection for Chinese equities has waned over the past two weeks, with those listed in Hong Kong suffering the most in the cutback, according to Goldman Sachs.

China extended registration-based IPOs to the whole A-share market on Friday, a key step in China's capital market reform that experts said will lift market efficiency and boost the real economy.

Confidence in China's economic recovery this year has been translated into continued capital inflows into the A-share market, with the momentum likely to continue in the coming months, said experts.

Net purchases by overseas investors on the A-share market hit a monthly record high of $27.7 billion in January, mirroring overseas investors “active participation” in the Chinese mainland stock market thanks to the rapid revival of China’s economy following the optimization of pandemic response, a Chinese official said on Wednesday.

Chinese regulators announced plans to expand the registration-based IPO system across the A-share market on Wednesday, in an effort to expand the capital market and ratchet up the ratio of direct financing to meet the needs of economic development.

Ups and downs can be seen as a natural phenomenon amid the A-share market's current upward trajectory, which is built on China's economic recovery, economic restructuring and stronger investor confidence, experts said.