Chinese stocks close higher, pulled by real estate stocks; annual sales reach a record high
Chinese stocks closed higher on Friday, led by real estate developers and energy news stocks, after the chairman of the securities regulator said the country would stabilize and reform its capital markets next year. The blue-chip CSI300 index rose 0.4% to 4,940.37, while the Shanghai Composite Index gained 0.6% to 3,639.78.
** For 2021, the CSI300 index lost 5.2%, marking its worst annual performance in three years, while the Shanghai Composite index gained 4.8%. ** Annual revenue in mainland Chinese markets exceeded 257 trillion yuan ($ 40.33 trillion), breaking a record set in 2015.
** Foreign capital inflows into the mainland market also hit a record, with East Money Information data showing the figure at 1.18 trillion yuan. ** China’s mutual fund industry’s total assets under management (AUM) hit a record 25.3 trillion yuan ($ 3.97 billion) this year.
** China will reform its stock market next year to adopt a comprehensive registration-based IPO system and attempt to defuse debt default risks, said Yi Huiman, chairman of the Chinese authority. securities regulation. ** Factory activity and the service sector in China both increased slightly in December, even amid local outbreaks of COVID-19.
** Real estate developers jumped 2.9% on Friday, after a central bank official said mergers and acquisitions in the real estate market would help companies reduce debt. ** The sub-index has consistently recorded a decline of nearly 19% in 2021 amid China’s tight regulations and a growing liquidity squeeze among some indebted developers.
** The shares of new energies increased by 2.3%, with the photovoltaic industry increasing by 3.6%. The New Energy Index has jumped nearly 50% this year as part of China’s green push. ** Inventories of agricultural products and machinery increased 2.1% and 1.6%, respectively.
** However, gains were limited by losses in consumer staples as liquor makers fell 1.1%.
(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)