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Caixin China December Services PMI Expands Fastest Since July
According to a private survey, China’s service activities continued to expand in December, and overseas demand for the country’s services also increased.
The Caixin China General Services Business Activity Index rose from 51.5 in November to 52.9 in December, marking the 12th consecutive month of increases. The survey also noted that the growth rate was the fastest since July.
“The overall growth momentum of China’s services sector continued to revive at the end of 2023,” the research report said. “Employment recorded a modest increase as companies became more cautious about hiring. However, the slight expansion was enough to absorb new orders and the backlog of jobs remained unchanged.”
PMI readings above 50 indicate expansion in activity, while readings below that level indicate contraction.
— Shreyashi Sanyal
CNBC Pro: These 9 stocks are cheaper than the S&P 500 and are poised for strong earnings growth in 2024
Stocks soared in 2023 as investors were encouraged by the theory that interest rate hikes would end in 2024.
Tech stocks were the driving force behind the boom in trends such as artificial intelligence.
of S&P500 24% rise, mostly in high-tech industries Nasdaq Composite 2023 increased by 43.4%, making it the best year since 2020.
Still, some stocks trade at cheaper valuations than the broader S&P 500 index, and analysts expect them to deliver strong earnings growth in 2024.
CNBC Pro subscribers can read about them here.
— Tan Weizhen
CNBC Pro: Deutsche Bank names stocks that will be the last to survive in the autonomous driving space
Building the technology to power self-driving cars has proven extremely difficult for automakers.
Most recently, GM’s robotaxi service, Cruise, was shut down in San Francisco due to safety issues.
Against this backdrop, Deutsche Bank calls the stock a “rare long-term growth story” for the sector, as the company’s technology could find buyers among global automakers looking to add self-driving capabilities. listed.
CNBC Pro subscribers can read more here.
— Ganesh Rao
European Market: Click here for opening call
European markets are set to open in mixed territory on Thursday.
british FTSE100 The index is expected to open seven points higher at 7,684. dachshund France decreased by 3 points to 16,518 CAC Italy down 1 point to 7,404 FTSE MIB According to IG data, it decreased by 7 points to 30,191.
French inflation figures for December will be released on Thursday.
— Holly Ellyatt
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