SHANGHAI: China stocks rebounded on Friday as traders looked for bright spots next year amid authorities’ vows to support growth, ending 2022 as the market logged the worst year in four.
China’s blue-chip CSI 300 Index closed 0.4 percent higher, while the Shanghai Composite Index gained 0.5 percent. Hong Kong’s Hang Seng Index edged up 0.2 percent, and the Hang Seng China Enterprises Index added 0.1 percent.
Other Asian equities rose as investors looked to end the year on an optimistic note after US data showed the Federal Reserve’s aggressive monetary policy was dampening inflationary pressures.
China shares recorded their worst yearly performance since 2019, with the CSI 300 Index down 21.6 percent. Hong Kong’s stock benchmark, meanwhile, slumped 15.4 percent to log the worst year since 2012.
Foreign investors bought a net 90 billion yuan ($12.9 billion) of China stocks in 2022 via the Stock Connect Scheme, a fifth of last year’s total and the smallest amount since 2017.
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