The Shangai Composite Index Closes 0.31% Higher

The Shangai Composite Index went up by 12 points or 0.31 percent on Wednesday to close at 3842 points. The rise was led by Guangzhou Automobile (4.46%), Jiangsu Hengrui (3.64%) and Anhui Conch Cement (3.42%). On the downside, the weakerst performers were China Fortune (-5.11%), Poly Real Estate (-0.86%) and China Coal (-0.79%).

The Shanghai Composite rose 0.31% to close at 3,842.2 on Wednesday, while the Shenzhen Component slipped 0.11% to 12,887.6, as the latest stimulus measures failed to boost investor confidence. Policymakers unveiled mortgage subsidies and expanded central bank funding support, while the State Council pledged to roll out "a package of practical and effective additional policies." While it represent China's most significant stimulus since September 2024, investors continue to look for stronger support to address persistent domestic demand weakness. Meanwhile, the latest official and private PMI data provided some relief to investors. Industrial and Commercial Bank of China (1.35%) and Kweichow Moutai (1.81%) led gains, while NAURA Technology (-2.06%) and Suzhou Dongshan Precision Industry (-2.15%) lagged. For September, the Shanghai Composite fell 3.61% and the Shenzhen Component tumbled 8.04%. Chinese financial markets will be closed from October 1-7 for the National Day holiday.

The Shangai Composite Index rose 9 points or 0.24 percent on Tuesday to close at 3833 points. Leading the gains are Guangzhou Automobile (10.02%), Greenland Holdings (6.38%) and China Fortune (6.20%). Top losers were Hengli Petrochemical (-2.98%), Sinopec (-2.03%) and China Coal (-1.97%).