Chinese Indices Rise as Aviation and Robotics Stocks Lead Holiday Gains

Chinese indices continued their upward trend as mainland shares extended gains, with the Shanghai Composite marking a seventh straight winning session led by aviation and robotics stocks.

The Shanghai Composite closed up 0.47%, while the CSI 300 rose 0.18%, reflecting improving investor confidence in Chinese indices during the holiday period.

Aviation and robotics were the top performers, with their sub-indexes surging 4.39% and 2.84% respectively, providing strong support to Chinese indices.

Property sector and yuan moves

The property sector retreated, with the CSI 300 property index slipping 0.34% despite Beijing easing home purchase restrictions to stabilise the struggling market.

The onshore yuan hit its strongest level in about 15 months, nearing 7 per dollar, boosted by exporters converting dollar holdings, reinforcing positive sentiment toward Chinese indices.

The People’s Bank of China reiterated its commitment to keeping the exchange rate basically stable at a reasonable and balanced level, supporting continued confidence in Chinese indices.