A-Share V-Shaped Reversal: STAR 50 Closes Up 1.16%, New Stocks List Smoothly on STAR Market
China's A-share market staged a V-shaped reversal on Monday, with the STAR 50 index closing up 1.16% after falling over 3% intraday. The Shanghai Composite, Shenzhen Component, and Hang Seng Index also turned higher. International oil prices slumped, weighing on the US dollar. Turnover on the Shanghai and Shenzhen exchanges expanded to 2.08 trillion yuan, up 145.5 billion yuan from the prior session, but excluding new stock trading, the increase was marginal. Geopolitical conflicts subsided, lifting copper, gold, and tin prices. New stocks listed smoothly on the STAR Market.
China's A-share market's center of gravity shifted rapidly upward amid volatility on Monday. The STAR 50 index fell over 3% in early trading but staged a V-shaped reversal, closing up 1.16%. The Shanghai Composite Index, Shenzhen Component Index, and the Hang Seng Index in Hong Kong turned stronger.
International oil prices fell sharply on Monday, dragging the US dollar index lower. The Hang Seng Index gained over 1% intraday. Leaders in overseas supply chain segments that had corrected sufficiently, such as PCB and CPO, saw their share prices rise.
Turnover on the Shanghai and Shenzhen exchanges reached 2.08 trillion yuan, up 145.5 billion yuan from the previous trading day. Excluding the turnover from new listings, the combined turnover of the two exchanges did not increase significantly compared to the prior session.
Recent geopolitical conflicts have subsided again. Prices of copper, gold, tin and other resources rose on Monday.