Chinese stocks show positive trend at Wednesday’s end
Date
4/24/2024 8:19:27 AM
(MENAFN) On Wednesday, Chinese Stocks demonstrated a positive trend, with the benchmark Shanghai Composite index rising by 0.76 percent to reach 3,044.82 points by the end of trading. Similarly, the Shenzhen Component Index also closed higher, up by 0.74 percent at 9,251.13 points.
Market activity saw a notable increase in turnover, with the combined trading volume of stocks covered by both indices reaching 795.4 billion yuan (equivalent to USD112 billion). This represented an uptick from the previous trading day's turnover of 775.35 billion yuan.
Among the sectors driving the market gains were stocks associated with the aerocar sector, which experienced notable increases.
However, the banking and coal mining sectors saw more widespread declines in their stock values. Despite this, the overall market sentiment remained positive, with the ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, also registering a gain of 0.7 percent to close at 1,765.41 points.
The performance of Chinese stocks reflects the dynamic nature of the country's financial markets, influenced by various factors including domestic economic policies, global market trends, and investor sentiment.
As such, fluctuations in stock prices and sectoral performances are closely monitored by investors and analysts alike to gauge market trends and potential investment opportunities.
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