Chinese Stocks End 2024 on Upbeat Note Despite Dip on Final Day

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Stock Market,China,Hong Kong

Chinese stocks ended 2024 with gains, marking the first annual increase in four years. The CSI 300 Index rose 15.9%, while the Shanghai Composite Index gained 13.9%. Hong Kong's Hang Seng Index also closed higher, recording an 17.9% annual increase. Despite a dip on the final trading day, analysts attribute the positive performance to government policy support aimed at reviving the economy.

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The blue-chip CSI 300 Index, tracking the biggest companies listed in the cities of Shanghai and Shenzhen, rose 15.9 per cent in 2024, snapping a losing streak since 2021 set off by the Covid-19 pandemic, property sector woes, and weak consumer confidence. “Various supportive measures announced during the second half of the year, which targeted monetary policy, the property market, and capital markets, largely surpassed expectations and overshadowed ongoing economic concerns.”

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