Skip to content Shanghai Composite Rises: December 28-2023
Reuters – On Thursday, the Shanghai Composite Index saw a 0.7% rise, surpassing the 2,930 mark, while the Shenzhen Component experienced a significant rally of 2.1%, reaching 9,388. This marked the second consecutive session of gains, as investors in China actively pursued growth stocks that had previously undergone a slump. The positive shift in the market is partially attributed to expectations that Chinese authorities might implement more accommodating policies next year, aiming to support the country’s economic recovery.
Despite the recent uptick, it’s important to note that both the Shanghai and Shenzhen indexes are poised to record annual losses of about 5% and 15%, respectively. This trend reflects the economic and policy challenges that have impacted mainland China’s stocks for much of the year. Leading the rebound were growth-focused sectors like new energy and consumer-related stocks. Notable performers included Longi Green Energy, up by 7.4%, Contemporary Amperex and Tianqi Lithium each gaining 3.9%, Kweichow Moutai increasing by 1.9%, and China Tourism Group rising 5%.
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