China Stocks Erase Earlier Losses

2026-10-23 02:06 By Czyrill Jean Coloma 1 min. read

The Shanghai Composite rose 0.89% to close at 3,690.5 on Friday, while the Shenzhen Component climbed 2.79% to 11,673.8, rebounding from a more than two-month low in the earlier session as increased state-backed ETF buying helped support both benchmarks.

Turnover across nine ETFs favored by China’s national team reached CNY 60 billion ($8.99 billion), led by the E Fund ChiNext ETF, which attracted CNY 15 billion in inflows, its highest since July.

The ETFs drew a combined net 46 billion yuan on Thursday, the most since the Liberation Day-triggered selloff in April 2025.

Moreover, China have stepped up efforts to curb selling pressure and stabilize equity markets after the late-2024 stimulus-driven rally lost momentum.

AI-related stocks also recovered as selling pressure eased, with Cambricon Technologies (5.46%), SMIC (4.01%), and Zhongji Innolight (3.82%) gaining.

Despite Friday’s rebound, the Shanghai Composite fell 0.69% for the week, while the Shenzhen Component lost 1.09%.



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China Stocks Erase Earlier Losses
The Shanghai Composite rose 0.89% to close at 3,690.5 on Friday, while the Shenzhen Component climbed 2.79% to 11,673.8, rebounding from a more than two-month low in the earlier session as increased state-backed ETF buying helped support both benchmarks. Turnover across nine ETFs favored by China’s national team reached CNY 60 billion ($8.99 billion), led by the E Fund ChiNext ETF, which attracted CNY 15 billion in inflows, its highest since July. The ETFs drew a combined net 46 billion yuan on Thursday, the most since the Liberation Day-triggered selloff in April 2025. Moreover, China have stepped up efforts to curb selling pressure and stabilize equity markets after the late-2024 stimulus-driven rally lost momentum. AI-related stocks also recovered as selling pressure eased, with Cambricon Technologies (5.46%), SMIC (4.01%), and Zhongji Innolight (3.82%) gaining. Despite Friday’s rebound, the Shanghai Composite fell 0.69% for the week, while the Shenzhen Component lost 1.09%.
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