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Yonghui Superstores leads gains with an 8.48% rise, while Shanghai Electric sees a 3.10% uptick. Other high-volume stocks show mixed results in the Chinese stock market.
The SZSE Composite Index fell 3.54% to close at 1,966.91 CNY, with trading volume reaching 92.59 billion CNY amid market volatility.
At market opening, East Money Information and Seres Group see a robust performance, while Sichuan Changhong Electric slides. Key players continue to drive trading volume on the Shanghai Stock Exchange.
This upward movement in share prices comes amidst a backdrop of positive sentiment in the market, driven by various factors including strong corporate earnings reports and stable economic indicators. Investors appear optimistic, buoyed by recent developments in the tech sector, which remains a cornerstone of Taiwan's economy. Notably, major companies listed on the Taiwan Stock Exchange have reported better-than-expected quarterly results, contributing to a favorable outlook for the market.
Large-cap stocks in the financial and manufacturing sectors led the market’s decline. Notably, the Bank for Investment and Development of Vietnam (BID) saw the steepest drop, decreasing by 0.71% and contributing nearly 0.5 points to the VN-Index's overall decline. FPT Corporation (FPT) and Southeast Asia Commercial Joint Stock Bank (SSB) also faced losses, falling by 0.96% and 3.63%, respectively.
In 2023, South Korea experienced a record-high daily foreign exchange (FX) turnover in its banking sector, reaching an average of $65.96 billion per day.
South Korean stocks closed higher Tuesday as investors scooped up undervalued shares after U.S. stock indexes closed at an all-time high overnight.