Chinese equities closed mixed on Friday, with property shares rising after China Evergrande Group paid interest on an overdue dollar-denominated bond, while miners and energy stocks dragged the market down. The Shanghai Composite lost 0.34% to close at 3,583, while the Shenzhen Component gained 0.33% to 14,493, with both indices capping the week slightly higher. Consumer stocks also supported the market led by gains in BYD Company (4.53%), Kweichow Moutai (3.09%) and Midea Group (6.92%). Meanwhile, coal and energy-related stocks tumbled, with declines led by Shaanxi Coal (-6.97%), Henan Shenhuo (-6.76%) and Yanzhou Coal (-8.61) as Beijing pledged to bring coal prices down to reasonable levels through government intervention.
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 October of 2021.
The China Shanghai Composite Stock Market Index is expected to trade at 3485.56 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 3237.64 in 12 months time.