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A-Share Trend | Shanghai Composite Index Closes Up 1.8%, Ending Three-Day Losing Streak
A-shares rebounded today after falling more than 3% yesterday. The Shanghai Composite Index closed up nearly 1.8%, ending a three-day losing streak. Total trading volume across the two markets decreased by over 10% to 2.08 trillion yuan (RMB).
The Shanghai Composite opened 36 points higher but was pressured and pulled back, dropping as much as 5 points or 0.14% to a low of 3,807 points. Later, buying momentum resumed, and the market steadily rose, closing near the day’s high at 3,881 points, up 68 points or 1.78%, with a turnover of 9,314.19 billion yuan.
The Shenzhen Component Index opened 169 points higher but then declined under selling pressure, falling as much as 176 points or 1.32% to a low of 13,169 points. In the afternoon, the market regained upward momentum and closed at its daily high at 13,536 points, up 191 points or 1.43%, with a turnover of 11,514.22 billion yuan.
The CSI 300 Index stood at 4,474 points, up 56 points or 1.28%; the ChiNext Index was at 3,251 points, up 16 points or 0.51%.
All sectors generally performed well, with power stocks rising nearly 0.5%; real estate, cement, media and entertainment, and non-ferrous metals gained over 3%; biotech, steel, automotive manufacturing, and chemical stocks increased over 2%; financial stocks rose more than 1%; coal and oil stocks were somewhat weaker.