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Breakdown of China's Jan-Sept property investment – Financial Post

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BEIJING — Following is a breakdown of China’s real estate investment for the year to September, published by the National Bureau of

Statistics on Monday.

Actual investment in the sector (bln yuan, pct

change y/y):

Jan-Sep Jan-Aug Jan-Jul Jan-Jun Jan-May Jan-Apr Jan-Mar Jan-Feb Jan-Dec Jan-Nov Jan-Oct Jan-Sep

Level 11256.8 9806 8489.5 7217.9 5431.8 4024 2757.6 1398.6 14144.3 12949.2 11655.6 10,348.40

Change 8.8 10.9 12.7 15 18.3 21.6 25.6 38.3 7 6.8 6.3 5.6

Floor space under construction (mln

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sqm, pct change y/y):

Jan-Sep Jan-Aug Jan-Jul Jan-Jun Jan-May Jan-Apr Jan-Mar Jan-Feb Jan-Dec Jan-Nov Jan-Oct Jan-Sep

Level 9280.65 9099.92 8918.8 8732.51 8399.62 8185.13 7983.94 7706.29 9267.59 9024.25 8801.2 8,598

Change 7.9 8.4 9 10.2 10.1 10.5 11.2 11 3.7 3.2 3 3.1

Floor space newly started for construction (mln

sqm, pct change y/y):

Jan-Sep Jan-Aug Jan-Jul Jan-Jun Jan-May Jan-Apr Jan-Mar Jan-Feb Jan-Dec Jan-Nov Jan-Oct Jan-Sep

Level 1529.44 1355.02 1189.48 1012.88 743.49 539.05 361.63 170.37 2244.33 2010.85 1807.2 1,601

Change -4.5 -3.2 -0.9 3.8 6.9 12.8 28.2 64.3 -1.2 -2 -2.6 -3.4

PROPERTY SALES

Property sales measured by floor space (mln sqm,

pct change y/y):

Jan-Sep Jan-Aug Jan-Jul Jan-Jun Jan-May Jan-Apr Jan-Mar Jan-Feb Jan-Dec Jan-Nov Jan-Oct Jan-Sep

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Level 1303.32 1141.93 1016.48 886.35 663.83 503.05 360.07 173.63 1760.86 1508.34 1332.9 1,170.70

Change 11.3 15.9 21.5 27.7 36.3 48.1 63.8 105 2.6 1.3 0 -1.8

Property sales by value (bln yuan, pct

change y/y):

Jan-Sep Jan-Aug Jan-Jul Jan-Jun Jan-May Jan-Apr Jan-Mar Jan-Feb Jan-Dec Jan-Nov Jan-Oct Jan-Sep

Level 13479.5 119040.7 10643 9293.1 7053.4 5360.9 3837.8 1915.1 17361.3 14896.9 13166.5 11,565

Change 16.6 22.8 30.7 38.9 52.4 68.2 88.5 133 8.7 7.2 5.8 3.7

SOURCE OF MONEY INTO

PROPERTY

Sources of funds raised (bln yuan, pct

change y/y):

Jan-Sep Jan-Aug Jan-Jul Jan-Jun Jan-May Jan-Apr Jan-Mar Jan-Feb Jan-Dec Jan-Nov Jan-Oct Jan-Sep

Total 15148.6 13436.4 11897 10289.8 8138 6354.2 4746.5 3056 19311.5 17109.9 15307 13,637.60

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Change 11.1 14.8 18.2 23.5 29.9 35.2 41.4 51.2 8.1 6.6 5.5 4.4

Loans 1877 1691.8 1540.2 1346.5 1087.3 904.3 722.2 520.1 2667.6 2425.6 2237.8 2,048.40

Change -8.4 -6.1 -4.5 -2.4 1.6 3.6 7.5 14.4 5.7 5.4 5.1 4

Own fund 4721.2 4077.3 3553.3 3015.3 2268.6 1716.7 1301.5 826.8 6337.7 5666.6 5004.5 4,448.50

Change 6.1 9.3 10.9 11.9 12.8 15.4 21 34.2 9 7.9 6.5 5.9

Foreign 5.9 5.3 4.4 4.2 2.5 1.7 1.1 1 19.2 15.4 11.1 9.4

funds

Change -36.9 -47.5 -44.4 -9.1 -26.5 -28.3 -41 -14 9.3 -4.7 -15.2 -9.5

Mortgage 2412.4 2149 1895.3 1635.5 1340 1073.8 784.3 496.1 2997.6 2698.3 2431.2 2,178.30

Change 10.7 13.4 17 23.9 32 41.3 50 63.7 9.9 10.6 9.8 9.5

OUTLOOK INDEX

Property outlook index (Real Estate

Climate Index)

Sept Aug Jul Jun May Apr Mar Feb Jan Dec Nov Oct Sep

100.74 100.85 100.99 101.07 101.19 101.3 101.33 101.44 101.11 100.87 100.63 100.57 100.47

(Reporting by Liangping Gao and Ryan Woo)

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Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

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NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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