After the release of September inflation figures, Chinese equities were mixed early on Thursday, with the Shanghai Composite down 0.15 percent and the Shenzhen Component up 0.2 percent. China’s producer price index jumped 10.7% year on year, faster than expected due to higher raw material prices, while the consumer price index rose 0.7 percent, below the 0.9 percent projection.
The market was dragged down by shipping and energy-related firms, while gold-related and economic reopening stocks in the aviation, entertainment, and hospitality industries advanced early. In other news, Hong Kong markets are closed for the holiday on Thursday.
The Chinese Composite Index Stock Costs gets expected to trade at 3505.24 points this year, according to Market Economist global pricing tools and professional predictions. We estimate that it will get valued at 3257.02 in a year.
In the past, the China Shanghai Composite Stock Market Index peaked at 6124.04 in October of 2007. The China Shanghai Composite Stock Market Index (data, forecasts, and historical chart) was last updated in October 2021.
On Thursday, China’s key coal industry associations urged top miners to ensure thermal coal supplies to help stabilize rising prices. The environment ministry announced that China planned to expand its winter air pollution campaign in 2021.
After plunging for three straight sessions due to China Evergrande’s financial problem, investors purchased the dips in the damaged real estate sector, which rebounded 2%.
Consumer staples jumped 2.3 percent ahead of the mid-autumn festival break when analysts anticipate more consumption. The sub-index for healthcare increased by 3.6 percent. This sector, according to Shanxi Securities, will continue to recover.
A sub-index that tracks coal stocks fell 6.2 percent, the most in a single day since February 2020. Evergrande’s issue, according to Goldman Sachs and JPMorgan, could have ramifications for the Chinese housing market as a whole.
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