Chinese stock markets kicked off the post-Chinese New Year trading session with robust gains on Monday. The benchmark Shanghai Composite Index rose by 1.56 percent, closing at 2,910.54 points. Meanwhile, the Shenzhen Component Index also saw an increase of 0.93 percent, ending the day at 8,902.33 points.
The combined turnover for stocks covered by these two indices reached 957.2 billion yuan ($134.76 billion), reflecting strong investor activity. Over 4,200 shares advanced, with 270 hitting their daily limit rises, signaling widespread market optimism.
Leading the charge were stocks in the education sector and those related to the new AI model \"Sora.\" These sectors benefited from investor confidence and innovative advancements, driving significant gains. On the flip side, stocks linked to securities and the pork industry faced notable declines, balancing the day’s overall positive performance.
Additionally, the ChiNext Index, which tracks China's Nasdaq-style board of growth enterprises, climbed by 1.13 percent to close at 1,746.42 points. This upward trend across multiple indices underscores a positive start to the trading year, with stakeholders optimistic about the economic prospects ahead.
Reference(s):
Chinese shares close higher on first trading day of Chinese New Year
cgtn.com
