China’s futures market sees robust trading in January

BEIJING: China's futures market logged brisk trading in terms of both volume and turnover in January, data from the China Futures Association showed. According to the association, as reported by China Central Television, the market's transaction volume reached 552 million lots last month, reflecting a year-on-year increase of 38.74 percent. Trading turnover of the country's futures market surged by 46.57 percent year-on-year to 44.02 trillion yuan (about US$6.12 trillion), it said. Besides, the purchasing managers' index (PMI) for China's manufacturing sector came in at 49.2 in January 2024, up from 49 in December last year. The figure rebounded after a three-month decline which started in October 2023, indicating an improvement in manufacturing activity. Moreover, China's non-manufacturing PMI also witnessed a rebound, notably in the sectors such as retail and catering, which exhibited an accelerated recovery in business activity. The PMI for the non-manufacturing sector reached 50.7 in January, marking an increase from 50.4 in December. A reading above 50 indicates expansion, while a reading below 50 reflects contraction. In general, China's macroeconomic fundamentals are showing ongoing improvement, fuelling sustained activity in the futures market. Source: Emirates News Agency