The Shangai Composite Index Closes 0.00% Higher

The Shangai Composite Index gained 0.1 points or 0.00 percent on Thursday to close at 3941 points. Gains were led by Sanan Optoelectron (9.98%), Poly Real Estate (4.72%) and Hengli Petrochemical (4.46%). Biggest losers were Agricultural Bank of China (-2.27%), Bank Of China (-2.25%) and Aisino (-1.87%).

The Shanghai Composite closed flat around 3,942 on Thursday, while the Shenzhen Component enged up 0.1% to 13,625.1, following two sessions of losses as fresh PMI data reinforced signs of improving economic momentum in China. A private survey showed the Composite PMI climbed to 52.1 in August from 50.8, driven by stronger growth in both the services sector (51.4 vs 50.4) and manufacturing (51.5 vs 50.9). The figures followed official data showing the Composite PMI edging up to 49.5 from 49.3, with manufacturing activity improving to 49.8 from 49.2 while the non-manufacturing gauge held steady at 49. However, caution lingered amid persistent concerns over China’s weak domestic demand. Among the top gainers were Foxconn Industrial Internet (2.27%), Ping An Insurance (2.42%), and Weichai Power (1.16%). In contrast, banking stocks came under pressure, particularly Industrial and Commercial Bank of China (-1.46%), Agricultural Bank of China (-2.41%), and China Construction Bank (-1.71%).

The Shangai Composite Index decreased 40 points or 1.01 percent on Wednesday to close at 3940 points. The decline was led by Hengli Petrochemical (-4.23%), Yonghui Superstore (-3.35%) and China Molybdenum (-3.25%).