Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Stocks edge up on mainland exchanges

Stocks edge up on mainland exchanges

Equities closed higher on the mainland bourses on Tuesday, the first trading day after the National Day holiday, even as sentiment remained at a low ebb on most of the bourses in Europe and the United States.
The benchmark Shanghai Composite Index rose by 0.29 percent to 2913.57 points, while the Shenzhen Component Index gained 0.3 percent to 9474.75 points.

Cement and building material makers were the major gainers and rose by 2.26 percent on average on Tuesday, followed by agriculture, public utility and pharmaceutical companies, and commercial banks, according to Shanghai-based market tracker Wind Info.

Yang Delong, chief economist at Shenzhen-based First Seafront Fund, said that the overseas markets fluctuated quite significantly during the seven-day National Holiday starting Oct 1. The Dow Jones industrial average dropped below 26,000 points on Oct 2, hitting its lowest point in a month. When the market closed on Oct 5, the Dow Jones industrial average dropped 0.92 percent in a week, while the Standard & Poor's shed 0.33 percent during the same period. The FTSE 100 index in the United Kingdom slumped by 3.65 percent during the first trading week in October, while the Hang Seng Index dropped by 0.52 percent in Hong Kong.

Yang said that the adjustment in the overseas markets might theoretically lead to a slight decline in the first few trading days after the National Day holiday. But given the fact that the A-share market has gained enough tenacity, there is little possibility of prices falling sharply in the A-share market.

More importantly, the offshore renminbi maintained its upward trend against the US dollar during the National Day holiday, and this will help boost the confidence of investors in A shares, said Yang.

Based on the experiences over the past two decades, the possibility of the A-share market to report positive results will come at around 65 percent from the first trading day after the National Day holiday to Oct 15, according to a note from Guotai Junan Securities. As the A-share market has already adjusted before the holiday and shown upward tendency at the end of September, the impact from the overseas market during the holiday will be limited and the rebound of A shares can be expected, the note said.

Zhang Yulong, chief strategist of China Securities, said that machinery, mechanical and electronic devices will be the sectors most likely to register increases after the holiday.

Liu Fangxu, director of the mutual fund investment team at CIB Fund Management, said that there might be slight fluctuations in the A-share market in the fourth quarter of this year. But in the long term, the Chinese capital market is likely to witness a bullish trend, with consumption and technology assets becoming the theme of future investment.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
House Republicans Move to Defund OECD Over Global Tax Dispute
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
Intel Reports Revenue Beats but Sees 81% Rise in Losses
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
CEO Resigns Amid Controversy Over Relationship with HR Executive
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
Tulsi Gabbard Unveils Evidence Alleging Political Manipulation of Intelligence During Trump Administration
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Trump Announces Coca-Cola to Shift to Cane Sugar in U.S. Production
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Air India Pilot’s Mental Health Records Under Scrutiny
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
Moonshot AI Unveils Kimi K2: A New Open-Source AI Model
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Bitcoin Reaches New Milestone of $116,000
Severe Heatwave Claims 2,300 Lives Across Europe
Declining Beer Consumption Signals Cultural Shift in Germany
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
×