The Shanghai Composite rose 1.1% to close at 3,399 while the Shenzhen Component gained 1.6% to 12,896 on Thursday, marching towards their highest levels in almost four months, as China’s economy showed signs of improvement amid an easing Covid situation. China’s manufacturing and service sectors expanded in June for the first time in four months as authorities gradually lifted virus restrictions, reviving output and consumption. The benchmark indexes also posted their biggest monthly gains in nearly two years, boosted by expectations that China’s policy will turn more accommodative to support an economic recovery. Growth-oriented technology and new energy stocks led the advance, with strong gains from TCL Zhonghuan (10%), East Money (2.2%), Wingtech Technology (8.2%), Tianqi Lithium (1.6%) and Longi Green Energy (3.9%). Consumer, tourism and manufacturing stocks also gained on hopes for continued economic reopening.
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 June of 2022.
The China Shanghai Composite Stock Market Index is expected to trade at 3253.61 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 2981.27 in 12 months time.