Mainland Chinese shares opened mixed in Shanghai, with the Shanghai Composite Index struggling for direction as investors weighed soft domestic data against expectations of targeted policy support.
Consumption names edge higher
Consumer staples and select healthcare stocks attracted early interest, reflecting defensive positioning amid uncertainty over industrial momentum. Manufacturing and construction-linked counters lagged, pressured by weak property-sector sentiment and subdued infrastructure demand.
State-owned banks traded narrowly, as traders looked for clarity on potential reserve requirement or lending-rate adjustments.
Policy expectations in focus
Market attention remains firmly fixed on Beijing, with investors hoping for incremental fiscal or monetary measures to stabilise growth. While authorities have reiterated commitments to support the economy, concrete announcements have been limited, keeping enthusiasm restrained.
Technology shares were mixed, with semiconductor names showing tentative recovery following recent losses, while software stocks remained under pressure.
Foreign flows remain selective
Northbound flows via Stock Connect were modest, indicating cautious overseas participation. Analysts noted that global investors continue to demand clearer visibility on earnings and structural reforms before increasing exposure to mainland equities.
Outlook
Shanghai markets are expected to remain headline-driven in the near term. Without decisive policy action, strategists see limited upside, favouring defensive sectors and high-dividend names as investors wait for stronger macro confirmation.
Newshub Editorial in Asia – 19 February 2026
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