Mainland Chinese stocks rally: Shanghai index up 2.16%, tech-heavy ChiNext rises 6.4%
Mainland Chinese stock markets saw a strong rebound on 4 November, with the Shanghai Composite Index closing up 2.16% — its biggest single-day gain in nearly seven months — while the tech-focused ChiNext Index surged 6.4%. Gains were led by precious metals, semiconductor chips, computing hardware an
Mainland Chinese stock markets staged a sharp rebound on 4 November, with the Shanghai Composite Index closing up 2.16 per cent, its biggest single-day gain in nearly seven months, according to Hong Kong's RTHK. The index regained the 3,600-point mark and ended the session at its intraday high of 3,686 points, up 78 points.
The Shenzhen Component Index rose 458 points, or 4.22 per cent, to 11,335 points. The technology-heavy ChiNext Index surged 153 points, or 6.4 per cent, to 2,544 points, marking its biggest single-day gain in about three and a half months. The STAR Market (ChiNext) Index also posted its largest one-day rise in roughly three and a half months, jumping nearly 10 per cent.
Sectors that led the rally included precious metals, semiconductor chips, computing hardware and innovative drugs, RTHK reported. In contrast, shares in the liquor, food and beverage, insurance and banking sectors declined, bucking the broader upward trend.
The broad-based rebound came after a period of weakness in mainland markets, though analysts cautioned that one day's strong performance does not necessarily signal a sustained recovery. No further details were provided on the specific drivers of the move or any policy announcements that may have influenced trading.