27.06.2016 - Profit growth of large companies in China has slowed
According to recent statistics, the profits of China's large industrial enterprises showed an increase of 3.7% in May compared with the same period last year. It is worth noting that in April, the same figure was 4.2%. According to official statistics, profit growth is stable and the highest rates were recorded in the coal industry, manufacturers of steel and non-ferrous metals. Profit reduction was in the chemical and petroleum industries, as well as among electronics manufacturers. Given the volatility in the markets due to the results of the referendum in the UK, we expect continued high levels of volatility and may see a drop of Chinese indices in the near future.