Why has Keltech Energies Limited (506528) performed so strongly recently - Free Consultation

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Why has Keltech Energies Limited (506528) performed so strongly recently ✌️【Investment Tools】✌️ Free break-even services with professional advisors to help you quickly recover and avoid losses, achieving steady growth. Editor’s Note:Sign up for 【 - Free Consultation 】’s Meanwhile in China newsletter, which explores what you need to know about the country’s rise and how it impacts the world.

China has reported a record upsurge in travel and consumption during a longer-than-usualLunar New Year holiday season, touting the gains as signs that the world’s second largest economy is regainingits footing thanks to the government’s supportive policies.

But according to 【 - Free Consultation 】 calculations based on official data, the average tourism-related spending per trip was below pre-pandemic levels, as consumer confidence remains weak amid deflationary pressure.

Why has Keltech Energies Limited (506528) performed so strongly recently ✌️【Investment Tools】✌️ Real-time stock market data, precise predictions, and investment strategies to help you optimize your portfolio and achieve financial success. A total of 474 million trips were made within mainland China during the Year of the Dragon travel season, up 34% compared to the same holiday in 2023 and 19% higher than in 2019, according to data published Sunday by the Ministry of Culture and Tourism.

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However, the most recent holiday season took place over eight days from February 10 to February 18, which was one day more than previous periods.

“Supported by various favorable factors such as government policies, [services] supply, and propaganda work, people in urban and rural areas have exhibited a rising willingness to travel, with many indicators such as the number of trips and travel spending hitting record high levels,” the ministry said in a statement.

Why has Keltech Energies Limited (506528) performed so strongly recently ✌️【Investment Tools】✌️ Free stock selection service with expert predictions and real-time market insights, providing you with the best investment strategies for long-term success. This Lunar New Year period is the longest in recent history. Previously, the holiday had lasted seven days. It was also the first holiday since 2019 that was completely unaffected by the impact of the Covid-19 pandemic.

Why has Keltech Energies Limited (506528) performed so strongly recently ✌️【Investment Tools】✌️ Real-time updates on global stock trends and expert market analysis to help you select profitable stocks and grow your wealth effectively. The ministry did not provide details of the numbers of trips or spending by day. However, 【 - Free Consultation 】 calculations based on official data suggest the consumption level fell short of pre-pandemic levels.

On average, 59.25 million domestic trips per day were made during this holiday period, slightly lower than the 59.29 million trips per day taken in 2019.

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“Although we do see some strength in the data, we urge market participants to exercise caution,” Nomura analysts said in a Monday note.

“We maintain our view that the ongoing economic dip is likely to worsen into the spring,” they added.

China’s economy is grappling with a myriad of challenges, including low confidence and deflationary pressure. In January,consumer prices fellby their fastest pace in 15 years, marking a fourth straight month of decline.

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“The property sector remains the main drag on economic growth,” said Frederic Neumann, chief Asia economist at HSBC.

“Falling construction is weighing on investment, hurting industries from steel, glass and cement to construction equipment makers, plumbers, and architects. At the same time, declining property prices are a drag on consumer spending as households sense a fall in their wealth,” he said.

During the holiday season, average daily new home sales in 25 major cities declined 27% compared to a year ago, according to the latest data from China Index Holdings, a leading private property research company.

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“The headwinds to growth remain severe and it will take more than a bump in holiday travel for market sentiment to recover,” said Neumann. “In particular, investors are still looking for more stimulus to revive growth and are hoping greater details around housing sector stabilization measures.”

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Hong Kong’s Hang Seng Index, however, declined 1%, and was poised to reverse three straight days of gains.

China’s stock markets have suffereda protracted slumpsince recent peaks in 2021, with more than $6 trillion in market value having been wiped out from the Shanghai, Shenzhen and Hong Kong markets.

Why has Keltech Energies Limited (506528) performed so strongly recently ✌️【Investment Tools】✌️ Free stock selection service with precise predictions of high-potential stocks to help you stay ahead in the market. Most stock quote data provided by BATS. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and 【 - Free Consultation 】. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Fair value provided by IndexArb.com. Market holidays and trading hours provided by Copp Clark Limited.

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