The Shangai Composite Index Closes 0.45% Higher

The Shangai Composite Index went up by 18 points or 0.45 percent on Wednesday to close at 4113 points. The rise was led by Datang Intl (10.03%), Yonghui Superstore (9.86%) and New China Life (9.47%). On the downside, the weakerst performers were Sanan Optoelectron (-7.02%), Avic Aviation Engine (-1.62%) and Bank Of China (-1.40%).

The Shanghai Composite rose 0.44% to close at 4,112 on Wednesday, while the Shenzhen Component slipped 0.53% to 16,119, as concerns over uneven economic growth weighed on market sentiment. Goldman Sachs said discussions with Chinese investors revealed increasing caution over the country's near-term growth outlook, citing a more uneven recovery marked by weak consumer confidence, labor market pressures, and the ongoing property downturn. Meanwhile, President Xi Jinping pledged to steadily promote "high-quality development," emphasizing sustainable, innovation-driven growth. On the economic front, a private survey showed China's Manufacturing PMI eased to a three-month low of 51.7 in June from 51.8 in May. Notable gainers included China Merchants Bank (1.15%), China Life Insurance (9.7%), and Ping An Insurance (3.75%). In contrast, Sungrow Power Supply slumped 13.9% amid reports that US regulators are preparing restrictions on its imports over perceived national security concerns.

The Shangai Composite Index rose 23 points or 0.56 percent on Tuesday to close at 4097 points. Leading the gains are Avic Aviation Engine (2.68%), Avic Shenyang Aircraft (2.67%) and LONGi Green (2.42%). Top losers were Hengli Petrochemical (-6.35%), China Coal (-5.08%) and Aluminum Corporation of China (-4.10%).