SHANGHAI: China stocks ended slightly higher on Thursday after swinging between modest gains and losses in thin trading volumes towards the end of the year, while the Hong Kong market was closed for a local holiday.
Trading volumes have declined since October, following a surge in market sentiment due to a slew of stimulus measures.
Investors are cautiously awaiting more concrete policy support, expected by most to arrive in March next year.
China’s blue-chip CSI300 Index closed up 0.05%, while the Shanghai Composite Index was up 0.14%. The Hong Kong market will resume trading on Friday.
The CSI 2000 index, which tracks small-cap stocks, led gains, with AI-related themes surging 3.1%.
The market will lack direction between the year-end and next March due to a period of policy vacuum, said analysts and traders.
During this period, Chinese retail investors frequently engage in speculative trading of small concept stocks, drawn by the potential for quick gains despite the associated risks.
China’s parliament, the National People’s Congress (NPC), will kick off its annual session in the first week of March, which will give investors insight into the country’s growth target and measures to stimulate the sluggish economy.
China’s box office revenues for Christmas Eve plummeted to the lowest in at least 13 years, data from ticket booking platform Maoyan showed on Wednesday.
Consumer discretionary shares were up 0.9%, while real estate stocks were down 0.8%.
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