The Shanghai Composite rose 0.4% to top 3,240, while the Shenzhen Component rose 0.7% to 10,250 on Friday (24/1), extending gains from the previous session as Beijing unveiled new measures to boost stock market investment. China's top financial regulator urged medium- and long-term funds, such as insurance, pension, national social security and annuity funds, to increase their equity investments. Meanwhile, the People's Bank of China kept the interest rate on its one-year medium-term lending facility unchanged at 2% during its January decision. Chinese stocks have come under pressure recently after U.S. President Donald Trump announced plans to impose 10% tariffs on China, potentially as early as Feb. 1. Notable performers included ZTE Corp (+3.9%), East Money (+1.3%), Hand Enterprise (+20%), Shenzhen Woer (+1.2%), and Contemporary Amperex (+2.3%).
Source: Trading Economics
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