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April 8, 2020

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Stocks see strong start to the week

China stocks rallied strongly on the first trading day of the week with overseas capital flooding into mainland markets.

The benchmark Shanghai Composite Index jumped 2.05 percent to 2,820.76 points, while the smaller Shenzhen Component Index surged 3.15 percent to 10,428.91 points.

The ChiNext Composite Index also soared 3.31 percent to 1,969.78 points, while the blue chip CSI300 Index closed 2.28 percent higher at 3,798.02 points.

Turnover on the two major bourses in Shanghai and Shenzhen topped 732.1 billion yuan (US$103.8 billion), up sharply from the 572.4 billion yuan in the previous session.

Overseas capital poured into the Chinese mainland yesterday, with the net influx into mainland markets exceeding 12.67 billion yuan via Stock Connect schemes linking Shanghai and Shenzhen with Hong Kong. This led to an overall net inflow into the mainland year to date.

More than 150 listed companies on the mainland surged by the daily limit of 10 percent.

Sub-indexes of all sectors gained, said East Money Information. The agriculture, forestry, animal husbandry and fishery industry led the rises with over 10 companies hitting the 10 percent cap.


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