China's Stocks Mixed Amid Energy Gains and Consumer Slump

On Monday, China's stock market presented mixed results; energy shares rose while consumer-related stocks fell, leading to a decline in Hong Kong's market. Policymaker actions since September have improved market sentiment, and 2024 is expected to usher in gains after three years of losses.

China's stock market exhibited mixed outcomes on Monday, buoyed by a rise in energy shares yet weighed down by a drop in consumer-related stocks. Notably, Hong Kong's market closed lower, underlining the complex dynamics at play.

For the first time in three years, onshore shares are anticipated to achieve gains in 2024, fueled by sustained policy stimulus measures implemented since September. These initiatives have significantly lifted market sentiment.

Market strategists predict continued activity into January, although external factors could dampen sentiments later. The finance ministry underscored support for new energy vehicles, compelling stakeholders to prioritize sustainable practices.

(With inputs from agencies.)