@luminousqusar
December 29, Monday
High-level voices:
China's industrial enterprise profits in November fell 13.1% year-on-year, marking the largest decline in over a year.
Overall sentiment:
Although the officially released data still covers January to November, showing that national industrial enterprises above designated size achieved total profits of 6.62686 trillion yuan, up 0.1% year-on-year, the sharp drop in November's single-month profits cannot be concealed. This data should be relatively reliable, mainly because profits are subject to taxation—false reporting would cause bigger problems, so everyone tends to report more realistically.
U.S. stocks fell overnight, so today is likely another trading day that requires intervention from the national team.
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