The Shanghai Composite fell 0.97% to close at 3,361 while the Shenzhen Component shed 0.53% to 13,328 on Friday, as investors avoided making big bets ahead of the week-long Lunar New Year holiday. Both indices dropped about 5% for the week, extending year-to-date losses for the tech-heavy Shenzhen Index to 10.3% as prospects of tighter policy from the US Federal Reserve added to concerns over the Chinese market’s regulatory headwinds. While an increasing number of Wall Street firms turned positive on China due to monetary easing, the country’s equity markets have yet to recover from sharp losses. The People’s Bank of China recently slashed several key short- and medium-term interest rates to support economic growth, but analysts deemed the rate cuts insufficient to boost the Chinese economy. A string of reports from Chinese state-backed media also called on investors this week not to panic, citing limited impact from overseas risks.
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 January of 2022.
The China Shanghai Composite Stock Market Index is expected to trade at 3441.20 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 3208.35 in 12 months time.