Asian stock markets closed slightly higher this Thursday (25), in an empty session, with the closure of the Hong Kong and South Korean markets, due to the Christmas holidays. Mainland Chinese stocks extended their gains, with the Shanghai benchmark index posting a seventh straight session of gains, driven mainly by advances in aerospace and robotics stocks.
At the close, the Shanghai Composite index increased by 0.47%, while the CSI 300 index, which brings together the most liquid stocks (blue chips), advanced by 0.18%. In Tokyo, the Nikkei 225 index rose 0.13% to 50,407.79 points.
Stocks in the aerospace and robotics sectors were among the most positive highlights of the day in China. The sub-indexes tracking these segments jumped 4.39% and 2.84%, respectively.
The real estate sector, in turn, returned to earlier gains, even after Beijing further eased some restrictions on real estate purchases in a bid to stabilize the sector, which remains fragile. The CSI 300 real estate index, which tracks the sector’s performance, fell 0.34%.
Beijing municipal authorities again eased restrictions on property purchases on Wednesday, lowering the qualification criteria for buyers. The move is part of the latest efforts to boost demand amid deteriorating property prices in the Chinese capital.
Markets also reacted as the Central Bank of China (PboC) reaffirmed its commitment to stabilizing market expectations and keeping the exchange rate “fundamentally stable at a reasonable and balanced level”, according to a statement released after a meeting on Wednesday.
About The Author
