The Shanghai Composite fell 1.12% to close at 3,227 while the Shenzhen Component dropped 1.54% to 11,238 on Thursday, tracking global markets lower as fresh turmoil in Credit Suisse exacerbated concerns about the stability of the global financial system. However, this fueled speculations that major central banks could take a less aggressive approach to policy tightening in order to prevent a severe recession. Investors also digested data showing new home prices in China decreased for the tenth straight month in February. Nearly all sectors declined, with notable losses from heavyweight firms such as Longi Green Energy (-5.3%), Ping An Insurance (-1.5%), China National Software (-5.8%), Sungrow Power (-6.6%) and China Telecom (-1.8%).
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 March of 2023.
The China Shanghai Composite Stock Market Index is expected to trade at 3138.34 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 2878.32 in 12 months time.