Chinese A-share rallied after top leadership vowed to support economy, Shanghai Composite surged most in eight months
STOCKS
Chinese A-share rallied after top leadership vowed to support economy, Shanghai Composite surged most in eight months
STOCKS

Chinese A-share rallied after top leadership vowed to support economy, Shanghai Composite surged most in eight months

 

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Chinese A-shares rallied on Tuesday after the top leadership vowed to step up policy adjustment to support the economy, optimize real estate policy at an appropriate time and to stimulate the vitality of the capital market. 

The Shanghai Composite Index gained 2.13% to close at 3,231, the biggest one-day gains in eight months. The Shenzhen Component Index gained 2.5% and the tech-heavy Chinext Price Index rallied 2.1%. 

Real estate developers led the rally, with more than ten stocks in the sector hitting limit-up. Securities brokers, insurance companies, automakers, household goods suppliers, were mostly higher. 

Overseas investors bought a net 19 billion yuan of A-shares via the Mainland – Hong Kong Stock Connect Scheme on Tuesday, marking the biggest one-day volume since December 2021.