China Stocks Start November Near 2025 Lows
The Shanghai Composite rose 0.4% to 3,613 on the first trading day of November, while the Shenzhen Component fell 0.1% to 10,819, with both benchmarks hovering near their lowest levels in more than a year as weak official PMI data underscored persistent economic headwinds. Manufacturing PMI fell to a three-month low of 49.3 in October 2026 from 50.1 in September, as domestic demand weakened following the Golden Week boost. Non-manufacturing PMI slipped to 49.7 from 50.2, signaling a contraction in services activity for the sixth time this year. Meanwhile, Chinese financial regulators reportedly met with banks and securities firms on Monday to discuss further measures to support the stock market. These moves would add to stabilization efforts launched last month, which have yet to reverse the downturn amid weak domestic demand and concerns over AI earnings. Agricultural Bank of China (-1.1%) and Bank of China (-1.0%) fell, while CATL (1.7%) and Wuliangye Yibin (3.4%) gained.
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The Shanghai Composite rose 0.4% to 3,613 on the first trading day of November, while the Shenzhen Component fell 0.1% to 10,819, with both benchmarks hovering near their lowest levels in more than a year as weak official PMI data underscored persistent economic headwinds. Manufacturing PMI fell to a three-month low of 49.3 in October 2026 from 50.1 in September, as domestic demand weakened following the Golden Week boost. Non-manufacturing PMI slipped to 49.7 from 50.2, signaling a contraction in services activity for the sixth time this year.
Meanwhile, Chinese financial regulators reportedly met with banks and securities firms on Monday to discuss further measures to support the stock market. These moves would add to stabilization efforts launched last month, which have yet to reverse the downturn amid weak domestic demand and concerns over AI earnings. Agricultural Bank of China (-1.1%) and Bank of China (-1.0%) fell, while CATL (1.7%) and Wuliangye Yibin (3.4%) gained.