Chinese exchanges end the year of the rat with strong growth in indices

Chinese exchanges end the year of the rat with strong growth in indices

Chinese Zodiac 2020: Year of the Rat

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2020 is a year of the Rat, starting from January 25th, 2020 and lasting until February 11th, 2021. It will be a Metal Rat year. In 2021,a year of the Ox will follow.\nThe Year of the Rat is the first zodiac sign in the Chinese zodiac cycle. According to the Chinese zodiac story, in the competition held by the Jade Emperor to decide the zodiac animals, the quick-witted rat asked the diligent ox to take him on a ride to cross the river and jumped down before the ox crossed the finish line, so the rat won the race and became the first of the zodiac animals.\nThe 12 zodiac animals are, in order: Rat, Ox, Tiger, Rabbit, Dragon, Snake, Horse, Goat, Monkey, Rooster, Dog, and Pig. A Rat year occurs every 12 years.\nRats’ Horoscope in 2020 https://bit.ly/2YBkhiC \nFind Your Chinese Zodiac Sign https://bit.ly/2SksxjN

Chinese exchanges end the year of the rat with strong growth in indices

Chinese stock markets closed the last trading day of the year of the rat with favorable gains, hitting five-year highs.

The SSEC Index closed the day with 1.43% gain to 3655.09 points, while the SZSE climbed 2.12% to 15,962.25 points. The ChiNext Index also posted strong gains of 2.39%.

A total of 2,457 shares showed gains, while 1,385 stocks dropped in value. Trading in China will resume only in a week.

CSI 300, composed of the 300 largest and most liquid Class A stocks, soars 2.14%.Chinese exchanges end the year of the rat with strong growth in indices Its figure has renewed its maximum since October 2007.

The highs of the last trading day of the year are very different from how things were 12 months ago, when investor panic over news of COVID-19 plunged the Shanghai Stock Exchange Index by 7.72%..

Despite a chilling start, the year of the rat turned out to be bullish for the Chinese capital market.

Shanghai index is up 19.43% over the year, while SZSE is up 44.17%. The ChiNext Index scores even more impressively, up 71.21%.

Some investors have interpreted Wednesday’s bullish performance as a good sign to trade in the coming year of the bull, which has a psychological reference to the bull market.. They also cited China’s fundamentals as the reason for their positive outlook on trade in the first quarter..

China’s CPI, the main indicator of inflation, fell 0.3% in January.

China’s economy is projected to grow 8.1% in 2021, while global GDP is expected to expand 5.5%, the IMF said in its latest economic forecast..