The Shanghai Composite was little changed at 3217.53 on Monday as optimism over China’s August economic data fizzled out with investors fretting over the evolving global pandemic and upcoming US presidential election. Meantime, a resurgence of coronavirus cases in Europe also affected market sentiment. On the other hand, China's industrial profits rose for the fourth straight month in August. In Hong Kong, the Hang Seng Index added 241 points or 1% to 23576 with HSBC’s shares closing 9.22% higher, posting its biggest intraday increase since 2009 after the bank’s share price fell to a 25-year low last week. Shares of SMIC fell 3.9% following reports that the US imposed restrictions on exports to the firm due to risks of military use.
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 September of 2020.
The China Shanghai Composite Stock Market Index is expected to trade at 3118.40 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 2841.78 in 12 months time.