The Shanghai Composite rose 0.55% to close at 3,005 on Friday, climbing for the eighth straight session and gaining 4.85% this week, as a series of market-supportive measures and further monetary easing boosted investor confidence. The Shenzhen Component also added 0.28% for the day and 2.82% this week. Starting in early February, Beijing implemented various measures to stabilize the stock market, including steps to prevent aggressive short-sellers and combat market manipulations. The People’s Bank of China also slashed bank’s reserve requirements and announced a bigger-than-expected benchmark mortgage rate cut this month. Externally, excitement over artificial intelligence helped shares of Chinese technology stocks. Notable gains were seen from heavyweight firms such as COL Group (3%), Seres Group (10%), ChongQing Changan (6.2%), Kunlun Tech (3.9%) and iSoftStone (8.5%).
The main stock market index in China (SHANGHAI) increased 30 points or 1.01% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from China. 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 February 23 of 2024.
The main stock market index in China (SHANGHAI) increased 30 points or 1.01% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from China. The China Shanghai Composite Stock Market Index is expected to trade at 2831.51 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 2730.92 in 12 months time.