Tuesday, 02 January 2024 12:17 GMT

Chinese Stocks End Monday in Green


(MENAFN) Chinese equities closed broadly higher on Monday, as the benchmark Shanghai Composite Index gained 0.76 percent to finish at 4,082.13 points, buoyed by strength in technology-linked sectors.

The Shenzhen Component Index mirrored the upward momentum, advancing 0.55 percent to settle at 14,966.75 points. Combined turnover across both exchanges reached 2.58 trillion yuan — approximately 375.63 billion U.S. dollars — surpassing Friday's 2.43 trillion yuan and signaling a pickup in investor activity.

Sector-wise, commercial aerospace, fiber optics, liquid cooling servers, and data center stocks emerged as the session's standout performers. Losses, meanwhile, were concentrated in education, salt lake lithium extraction, batteries, and property-related shares.

The ChiNext Index — which tracks China's Nasdaq-style growth enterprise board — edged marginally lower, shedding 0.02 percent to close at 3,677.58 points.

China's science and technology-focused STAR Composite Index bucked any broader softness, climbing 0.73 percent to end the session at 1,857.48 points, reflecting continued investor appetite for innovation-driven equities.

Monday's gains underscore a cautiously optimistic tone across Chinese markets, even as select cyclical and commodity-linked sectors faced renewed selling pressure.

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MENAFN

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