China's Stock Market Rebounds After Three-Year Decline

After three years of downturn, Chinese stocks posted annual gains despite a dip on the last trading day of 2024. The CSI 300 rose 14.7%, while the Shanghai Composite and Hang Seng Indexes also saw significant gains, driven by policy support and investor optimism.

Chinese stocks marked their first annual gain after an unprecedented three-year downturn, although they dipped on the last trading day of 2024. The rise was fueled by optimism over policy support.

The blue-chip CSI 300, comprising major companies listed in Shanghai and Shenzhen, climbed 14.7% for the year, reversing a downward trend that began in 2021 due to challenges like the COVID-19 pandemic and a sluggish property sector.

Hong Kong shares also closed the year on a high, with the Hang Seng Index seeing a 17.7% increase. Analysts from Value Partners described the performance as a positive surprise, highlighting that policy measures in the latter half of the year exceeded expectations, overshadowing lingering economic woes.

(With inputs from agencies.)