FX.co ★ China Stocks Mixed as Traders Digest Data

On Monday, the Shanghai Composite index edged down by 0.2% to roughly 3,863, while the Shenzhen Component rose by 0.9% to reach 13,040, indicating a mixed performance in mainland stocks as investors evaluated a series of economic reports. The data revealed that both industrial output and retail sales growth did not meet expectations for August, amidst weak domestic demand and Beijing's initiative to control overcapacity and diminish excessive competition. Additionally, the unemployment rate saw an unexpected increase, although new home prices experienced their smallest decline in 17 months, attributed to government measures designed to alleviate the ongoing property downturn. On the geopolitical front, officials from the United States and China commenced discussions in Madrid on Sunday, focusing on critical national security, trade, and economic topics. In terms of individual stock movements, Victory Giant fell by 5%, and Cambricon Technologies decreased by 4%, whereas Contemporary Amperex surged by 13.6%, and Sungrow Power advanced by 10.6%.