Oil prices rise on US-China trade progress, supply jitters persist
Investing.com -- Market sentiment in China has cooled amid ongoing trade tensions with the United States, with trading volumes declining across multiple market segments.
The weighted and simple Market Sentiment Index (MSASI) fell by 15 and 16 percentage points to 91% and 84% respectively, compared to the previous measurement on October 16.
Average daily turnover showed significant decreases across Chinese markets. ChiNext saw a 23% drop to 456 billion yuan, while A-shares declined 25% to 1.83 trillion yuan. Equity futures trading volume fell 20% to 438 billion yuan, and Northbound trading decreased 27% to 121 billion yuan.
The 30-day Relative Strength Index (RSI) decreased by 3% during the same period. Meanwhile, consensus earnings estimate revisions remained negative, though showing slight improvement compared to the previous week.
Despite the overall cooling sentiment, Southbound investment flows remained positive with net inflows of $1.9 billion between October 16-22. Year-to-date net inflows have reached $150 billion, with $5.2 billion flowing in during October.
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