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Daily average turnover on China's two stock exchanges was 670 billion yuan ($102 billion) so far this month, the lowest since May, according to data compiled by ' Zuercher said he expects rising Treasury yields to be a major source of near-term volatility in China's equity market, as it will continue to exert pressure on valuations of the country's growth stocks and trigger hoing the view, Herald van Der Linde, HSBC Holdings Plc's head of Asia Pacific equity strategy, said there remains downside risk to Asian equities in the near term and "China is no exception". Domestically, a central bank unwilling to keep funding conditions too loose, a contrast to its peers in other major economies, has also disappointed stock investors. Apart from its deleveraging campaign, signs of inflationary pressures, as shown in March's consensus-beating 4. 4% jump in China's producer prices, could prompt Beijing to further dial back its pandemic-induced economic stimulus.
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