Hi everyone. I’m Stephanie LI.
Coming up on today’s program
- Chinese stocks continued to gain on Wednesday, enchanting global investors on more supportive moves;
- High-profile Hong Kong delegation tours GBA for growth opportunities.
Here’s what you need to know about China in the past 24 hours
China's A-share market has remained steadfast despite headwinds in major Asian markets at the start of the month, and is likely to provide more structural opportunities as the nation rolls out more supportive measures and its economic fundamentals stabilize further, experts said.
The benchmark Shanghai Composite Index continued to gain 0.42 percent today, while the Shenzhen Component Index jumped 0.87 percent, with the ChiNext board rallying 1.1 percent. Combined trading value at the Shanghai and Shenzhen exchanges exceeded 1.15 trillion yuan, with over 3,900 stocks in the rise.
Boosted by the Dragon Boat Festival consumption boom, shares related to consumption gained the most. Moreover, jewelry and accessories companies reported the biggest daily increase of 5.21 percent on average on Tuesday, partly due to the return of benchmark COMEX gold futures to above the $3,400 per ounce level.
"Recently, the rollout of a package of fresh policy measures in early May further stabilized expectations and markets. Stepped-up policies and stable economic growth will bring more opportunities to China's capital market in 2025," said Yang Delong, chief economist at Shenzhen-based First Seafront Fund.
Yang said that the overall valuation of the A-share market is less than one-third of the US stock market, which means great investment opportunities. "With the emergence of sci-tech innovative fields represented by artificial intelligence and humanoid robots, China's capital market is expected to attract inflow of more overseas capital," he said.
Executive Editor: Sonia YU
Editor: LI Yanxia
Host: Stephanie LI
Writer: Stephanie LI
Sound Editor: Stephanie LI
Graphic Designer: ZHENG Wenjing, LIAO Yuanni
Produced by 21st Century Business Herald Dept. of Overseas News.
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