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Tags: China, Shanghai Composite index
The Shanghai Composite index showcased resilience as it rebounded by 0.14%, gaining 4.04 points to close at 2,918.81 on Monday. This positive shift followed Beijing’s reconsideration of its stance on the online gaming industry, approving 105 domestic games. This move brought relief to the market, which had experienced a downturn due to recent regulatory developments.
(Shanghai Composite Index One-month Chart)
In a surprising turn of events, Beijing’s softened stance on the online gaming industry breathed new life into the Shanghai Composite index. The approval of 105 domestic games signaled a more favorable outlook, countering the previous market uncertainty.
However, the market had recently experienced turbulence as China introduced draft rules aimed at curbing certain online gaming practices. These rules target activities that encourage excessive time and money spending by players.
Consequently, market sentiment was dampened, leading to the Shanghai Composite index closing near its lowest level in a year.
Amidst these developments, Wall Street experienced mixed closures in the lead-up to Christmas Day. Investors closely analyzed US PCE (Personal Consumption Expenditures) data, which was cooler than expected. This analysis contributed to the strengthening of bets for Federal Reserve interest rate cuts in 2024.
In this low-volume holiday trading period, specific sectors drove gains on Wall Street. Energy minerals companies, alongside consumer non-durables, utilities, and communications, played a significant role in the positive momentum.
Trading Economics provides valuable insights into the major stock market index in China, tracking the performance of all A-shares and B-shares listed on the Shanghai Stock Exchange. Explore the China Shanghai Composite Stock Market Index for a comprehensive view.
Dive into the architecture of the Shanghai Stock Exchange’s indices system on the official SSE Indices System Construction page. Gain a deeper understanding of the index’s construction and its role in reflecting the performance of the Shanghai securities market.
Stay updated with the latest Shanghai Stock Exchange news, index calculation, and equities overview. Explore related indices like SSE Composite, SSE 50, STAR 50, SSE 180, SSE 380, and CSI 300 for a comprehensive market perspective.
The Shanghai Composite Index is a capitalization-weighted index that reflects the performance of all A-shares and B-shares listed on the Shanghai Stock Exchange.
A2: The rebound was influenced by Beijing’s approval of 105 domestic games, signaling a shift in its stance on the online gaming industry.
A3: Draft rules aimed at curbing certain online gaming practices dampened market sentiment, leading to the index closing near its lowest level in a year.
A4: Energy minerals companies, consumer non-durables, utilities, and communications were key sectors driving gains on Wall Street during this low-volume holiday trading period.
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