A股開盤，上證指數跌1.25%，深證成指跌2.4%，創業板指跌3.29%。

Guoyuan Securities said in a research note demand for machine tools is rising and the global market is expanding. The sector retains a pyramid structure with Germany and Japan at the apex; 2024 data show China remains the world’s largest machine-tool producer and consumer. Domestic players are numerous and operating steadily, and China’s import-export mix is shifting toward higher-value trade, weakening the traditional low-end-export/high-end-import pattern.

Daiwei Research analyst Kevin Timoney said in a report the government has cut its fiscal buffer for 2029-30 to £15bn, down from £23.6bn in March, narrowing the room to raise spending or cut taxes without breaching fiscal rules. Timoney noted Wednesday’s budget contained no major policy changes, suggesting public finances are likely to remain fragile over the coming years.