The Shanghai Composite fell 0.25% to 3,129 while the Shenzhen Component lost 0.4% to 10,440 on Thursday, snapping a three-day advance as investors reacted to the latest Chinese PMI figures. Official data showed that Chinese manufacturing activity contracted for a fifth straight month in August, but came in better than last month’s reading of 49.3 and a consensus forecast of 49.4. Meanwhile, services activity in the country remained expansionary, but posted the lowest reading in eight months. Elsewhere, a private survey indicated that Chinese consumer spending bounced back in August, while the property sector continued to worsen. Notable losses were seen from heavyweight firms such as ChongQing Changan (-6.1%), East Money Information (-1.4%), Jinke Property (-2.2%), 37 Interactive (-7.2%) and Shenzhen Yinghe (-7.1%).
Historically, the China Shanghai Composite Stock Market Index reached an all time high of 6124.04 in October of 2007. China Shanghai Composite Stock Market Index - data, forecasts, historical chart - was last updated on August of 2023.
The China Shanghai Composite Stock Market Index is expected to trade at 2996.36 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2802.10 in 12 months time.