The Shanghai Composite jumped 1.17% to close at a 6-month high of 3,089 while the Shenzhen Component rallied 2.15% to 9,464 on Friday, extending a winning streak to a third day as sentiment improves and as foreign investors gradually return to Chinese markets. Analysts from global investment houses have upgraded their views on Chinese shares citing an improving macro outlook. On the data front, investors look forward to the latest PMI figures due next week for fresh insights on the world’s second-largest economy. Mainland stocks also tracked gains among global peers as strong earnings from major US tech firms Alphabet and Microsoft boosted market sentiment. Technology stocks led the charge, with gains from Zhongji Innolight (12.6%), Foxconn Industrial (10%), Eoptolink Technology (5.9%), Suzhou TFC Optical (6.8%) and Dawning Information (5.4%). The Shanghai and Shenzhen indexes advaned 0.76% and 1.99%, respectively, this week.
The main stock market index in China (SHANGHAI) increased 114 points or 3.82% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from China. 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 April 26 of 2024.
The main stock market index in China (SHANGHAI) increased 114 points or 3.82% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from China. The China Shanghai Composite Stock Market Index is expected to trade at 3007.83 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 2808.42 in 12 months time.