[Seoul=Newsis] Reporter Ye-seong Moon = The Chinese stock market closed higher on the 16th. The Shanghai Composite Index closed at 3170.71, up 3.48% from the previous day. The Shenzhen Component Index was 12,000.96, up 4.02% from the previous market, and China Next, called the Chinese version of Nasdaq, finished trading at 2635.08, up 5.2% from the previous market. The Shanghai Composite Index, which started at 3107.67, up 1.43% from the previous day, repeatedly fluctuated in the morning market, and showed an overall upward trend in the afternoon market and ended up rising. The previous day, the Shanghai index recorded the lowest level in one year and eight months since July 2020, and this is a reversal of todays decline. This upward trend is interpreted as the governments expectations for economic stimulus. Deputy Prime Minister Liu He said at a meeting of the State Councils Financial Stability and Development Committee on the same day that it was preparing specific cooperation plans for real estate and Chinese companies listing in the United States. In the Shanghai and Shenzhen stock markets, the trading volume exceeded 1 trillion yuan for two consecutive trading days. In the market, travel, hotels, and securities showed strength, while COVID-19 diagnosis and medical equipment showed weakness.
