The Shanghai Composite gained 0.89% to 3,409 while the Shenzhen Component rallied 1.23% to 12,982 on Tuesday, closing at their highest levels in almost four months, lifted by China's decision to ease some quarantine requirements for international arrivals. Health authorities said the country will cut its Covid-19 quarantine period by half to seven days for visitors from overseas, with a further three days spent at home. Investors also cheered comments from People’s Bank of China Governor Yi Gang who said the country’s monetary policy would continue to be accommodative to support the economic recovery. Consumer and transportation stocks led the advance, with strong gains from Wuliangye Yibin (3.5%), Kweichow Moutai (1.3%), Shanghai International Airport (8.5%) and Cosco Shipping (2.8%). Automakers also rallied, including ChongQing Changan (10%) and ChongQing Sokon (6.7%).
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.