政府新闻
中国股市迎来奇迹般的转折，上证综合指数周四上涨0.43% 2024-01-18
A trader follows the trend of the stock market
China's stock markets staged a miraculous turnaround on Thursday, with the Shanghai Composite Stock Index regaining the psychologically important 2,800 points and closing at 2,845.78.
Analysts said the market is expected to stabilize and return to normal operations along with the country's sustained economic recovery, calling for stepped-up policy support to bolster the economy and beef up investors' confidence.
In the morning session on Thursday, the Shanghai Composite Index broke the 2,800 points and set a record low since May 2020. However, the Shanghai Composite Index closed up by 0.43 percent to end at 2,845.78 and the Shenzhen Component Index rose by 1.0 percent to 8,847.
"The recent fall in both A-share and Hong Kong stock markets reflects the pessimistic sentiment of investors. Once market expectations improve, domestic capital markets will gradually rebound," Yang Delong, chief economist at Shenzhen-based First Seafront Fund Management Co, told the Global Times on Thursday.
In 2024, China's stock market may display a path from decline-to-rise in 2024, Yang said.
Intensified macro-policies are needed to drive up investment, consumption and the property sector to enhance investors' confidence, he said, noting that institutional investors are expected to enter the A-share market to explore opportunities at the moment.
"Along with the continuous upswing in the country's economic recovery, bearish news will gradually disappear. As a result, the stock market is expected to stabilize and return to normal operations," Dong Shaopeng, a senior research fellow at the Chongyang Institute for Financial Studies at the Renmin University of China, told the Global Times on Thursday.
Dong said that financial regulators need to strengthen communications with investors to avoid investors' misinterpretation of regulations. In addition, authorities should strictly crack down on illegal behaviors in the field in accordance with laws.
Following the Central Financial Work Conference in October, a key meeting held on Tuesday reiterated building China into a country with great financial strength. Financial oversight needs to have "teeth and thorns" and be sharp-pointed, the meeting stressed, pointing out that law enforcement should be strict in market access, prudential oversight and behavioral regulation.
Source: Global Times
