On October 24, China’s major A-share indices showed mixed results. The Shanghai Composite Index fell below the 3,300-point mark, while the Beijing Stock Exchange’s North Exchange 50 Index surged over 4%, reaching a historic high.
By the end of the trading day, the Shanghai Composite Index closed at 3,280, down 0.68%. The Shenzhen Component Index ended at 10,441, down 1.27%, while the ChiNext Index was at 2,175, down 1.37%. In contrast, the North Exchange 50 Index closed at 1,258, marking a 4.06% increase and a remarkable 42% rise just this month.
Zhang Chi, an analyst at Guojin Securities, commented on the recent strength of the North Exchange 50 Index, attributing its previous underperformance to low visibility and trading activity. He noted that with a significant improvement in liquidity, the Beijing Stock Exchange has clearly benefited. Stocks listed on this exchange align well with the current technology-driven market trend, making them more attractive to investors. He also highlighted recent favorable policies as key drivers behind this uptrend.
Additionally, the Ministry of Industry and Information Technology of China, along with the Beijing Stock Exchange and the National OTC (Over-the-Counter) Market Company, recently signed a strategic cooperation agreement aimed at enhancing the financing service system for specialized and innovative small and medium-sized enterprises. The agreement emphasizes collaboration among the exchanges and the ministry on institutional alignment, enterprise development, and operational coordination to create a strong synergy in supporting these businesses.
In terms of sector performance, data from Eastmoney Information indicated that rubber products and bioproducts led the gains in the A-share market, rising by 2.14% and 1.74%, respectively.
