China's financial markets have shown significant activity recently. Turnover on the Shanghai and Shenzhen Stock Exchanges exceeded 1 trillion yuan for the 21st consecutive trading day and 1.5 trillion yuan for the 8th consecutive day. The Beijing Stock Exchange 50 Index closed up 3.68% on Tuesday, with a trading volume surge to $7.47 billion, the second highest since the exchange’s launch in 2021. In corporate earnings, CITIC Securities reported a Q3 net profit of 6.229 billion yuan, up 21.94% year-over-year. Bank of China and ICBC also posted Q3 profit rises of 4.4% and 3.8%, respectively. Additionally, BYD Electronic reported a profit of 3.063 billion yuan for the nine months ended September 30, marking a 0.63% year-over-year increase. The most active Zhengzhou apple futures contract extended its rally to a 9% up limit.
China's big banks post rise in Q3 profits, squeeze on NIM #Earnings #banks https://t.co/rpEwODvQTX
BYD ELECTRONIC: PROFIT FOR THE NINE MONTHS ENDED 30 SEPTEMBER AT 3.063 BILLION YUAN, UP 0.63% Y/Y. https://t.co/1mCIFI9yMR https://t.co/eCjo1WbU7u
China’s biggest state-controlled lenders delivered gains in profit in the third quarter even as already record-low net interest margins continued to deteriorate https://t.co/j1SHgYWB5b