China Stocks Gain on Return From Golden Week
The Shanghai Composite rose 0.2% to 3,848 while the Shenzhen Component gained 0.6% to 12,960 on Thursday as investors returned from the week-long Golden Week holiday. Investors shrugged off broader Asian market uncertainty following an overnight Wall Street selloff driven by a sharp rise in US Treasury yields. Attention now turns to a series of key Chinese economic releases due next week, including inflation and trade data, for clues on whether Beijing's latest stimulus measures are gaining traction. The recently announced package, which included mortgage subsidies, expanded central bank funding support, and a State Council pledge to introduce "a package of practical and effective additional policies," has so far failed to convince investors that it will be sufficient to revive domestic demand. Notable gainers included Sinopec (1.3%), China CSSC Holdings (2.7%), CATL (1.5%), and BYD (1.6%).
6% to 12,960 on Thursday as investors returned from the week-long Golden Week holiday. Investors shrugged off broader Asian market uncertainty following an overnight Wall Street selloff driven by a sharp rise in US Treasury yields. Attention now turns to a series of key Chinese economic releases due next week, including inflation and trade data, for clues on whether Beijing's latest stimulus measures are gaining traction.
The recently announced package, which included mortgage subsidies, expanded central bank funding support, and a State Council pledge to introduce "a package of practical and effective additional policies," has so far failed to convince investors that it will be sufficient to revive domestic demand. 6%).