The Shanghai Composite fell 0.32% to close at 3,388 while the Shenzhen Component lost 0.28% to 12,860 on Friday, giving back some gains from the previous session, as investors watched for market reaction to positive factory activity data from a private survey in China. The Caixin China manufacturing PMI came in at 51.7 in June 2022, returning to growth after three months of contraction. Meanwhile, investors remained cautious amid growing concerns that aggressive monetary tightening by major central banks could tilt the global economy into recession. Heavyweight growth stocks declined, including BYD Company (-1.3%), Contemporary Amperex (-2.1%) ans Longi Green Energy (-2.6%). Meanwhile, manufacturing and industrial stocks advanced, with strong gains from Sany Heavy Industry (4.1%), Wuxi Shangji (5.8%) and Suzhou TA&A (10.4%).
Historically, the China Shanghai Composite Stock Market Index reached an all time high of 6124.04 in October of 2007. China Shanghai Composite Stock Market Index - data, forecasts, historical chart - was last updated on July of 2022.
The China Shanghai Composite Stock Market Index is expected to trade at 3160.15 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2981.27 in 12 months time.