Chinese Shares Rebound After State Fund Buys ETFs; Kaifa, JMC, GEM Rise on Strong Earnings

MT Newswires Live08-30

Chinese shares rebounded on Friday, snapping a three losing streak, as state-backed Central Huijin Investment stepped up its purchases of blue-chip ETFs.

The Shanghai Composite Index added 0.7%, or 19.11 points, to cap off the trading week at 2,842.21. The Shenzhen Component Index rose 2.4%, or 194.04 points, to 8,348.48.

The heavy buying from Central Huijin, which increased its holdings in E Fund CSI300 Index ETF and ChinaAMC China50 ETF by significant margins, boosted sentiment across the market.

Several Chinese companies also saw their shares rise on the back of strong first-half earnings.

Shenzhen Kaifa Technology (SHE:000021), Jiangling Motors' (SHE:000550, SHE:200550) and GEM (SHE:002340) gained 10%, 4%, and 3%, respectively.

Kaifa Technology's first-half profit went up 21% to 360.3 million yuan, while that of Jiangling Motors or JMC climbed 23% to 895.5 million yuan, and GEM's profit jumped 70% to 701.5 million yuan.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2463209369?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-08-30 15:52","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2463209369","market":"hk","top_or_hot":-1,"title":"Chinese Shares Rebound After State Fund Buys ETFs; Kaifa, JMC, GEM Rise on Strong Earnings","media":"MT Newswires Live","content":"<html><body><p> Chinese shares rebounded on Friday, snapping a three losing streak, as state-backed Central Huijin Investment stepped up its purchases of blue-chip ETFs.</p><p>The Shanghai Composite Index added 0.7%, or 19.11 points, to cap off the trading week at 2,842.21. The Shenzhen Component Index rose 2.4%, or 194.04 points, to 8,348.48.</p><p>The heavy buying from Central Huijin, which increased its holdings in E Fund CSI300 Index ETF and ChinaAMC China50 ETF by significant margins, boosted sentiment across the market.</p><p>Several Chinese companies also saw their shares rise on the back of strong first-half earnings.</p><p>Shenzhen Kaifa Technology (SHE:000021), Jiangling Motors' (SHE:000550, SHE:200550) and GEM (SHE:002340) gained 10%, 4%, and 3%, respectively.</p><p>Kaifa Technology's first-half profit went up 21% to 360.3 million yuan, while that of Jiangling Motors or JMC climbed 23% to 895.5 million yuan, and GEM's profit jumped 70% to 701.5 million yuan.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese Shares Rebound After State Fund Buys ETFs; Kaifa, JMC, GEM Rise on Strong Earnings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese Shares Rebound After State Fund Buys ETFs; Kaifa, JMC, GEM Rise on Strong Earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-30 15:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese shares rebounded on Friday, snapping a three losing streak, as state-backed Central Huijin Investment stepped up its purchases of blue-chip ETFs.The Shanghai Composite Index added 0.7%, or ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"002340","symbol_name":"格林美","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2463209369","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2463209369","pubTimestamp":1725004370,"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Chinese shares rebounded on Friday, snapping a three losing streak, as state-backed Central Huijin Investment stepped up its purchases of blue-chip ETFs.The Shanghai Composite Index added 0.7%, or 19.11 points, to cap off the trading week at 2,842.21. The Shenzhen Component Index rose 2.4%, or 194.04 points, to 8,348.48.The heavy buying from Central Huijin, which increased its holdings in E Fund CSI300 Index ETF and ChinaAMC China50 ETF by significant margins, boosted sentiment across the market.Several Chinese companies also saw their shares rise on the back of strong first-half earnings.Shenzhen Kaifa Technology , Jiangling Motors'  and GEM  gained 10%, 4%, and 3%, respectively.Kaifa Technology's first-half profit went up 21% to 360.3 million yuan, while that of Jiangling Motors or JMC climbed 23% to 895.5 million yuan, and GEM's profit jumped 70% to 701.5 million yuan.","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"002340":"格林美","STT":"道富银行","000550":"江铃汽车","GEM":"Goldman Sachs ActiveBeta Emerging Markets Equity ETF","000021":"深科技"},"translate_title":"国家基金购买ETF后中国股市反弹；凯发股份、江铃汽车、创业板因盈利强劲而上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GEM":1,"STT":1,"000021":0.9,"000550":0.9,"002340":0.9},"content_text":"Chinese shares rebounded on Friday, snapping a three losing streak, as state-backed Central Huijin Investment stepped up its purchases of blue-chip ETFs.The Shanghai Composite Index added 0.7%, or 19.11 points, to cap off the trading week at 2,842.21. The Shenzhen Component Index rose 2.4%, or 194.04 points, to 8,348.48.The heavy buying from Central Huijin, which increased its holdings in E Fund CSI300 Index ETF and ChinaAMC China50 ETF by significant margins, boosted sentiment across the market.Several Chinese companies also saw their shares rise on the back of strong first-half earnings.Shenzhen Kaifa Technology (SHE:000021), Jiangling Motors' (SHE:000550, SHE:200550) and GEM (SHE:002340) gained 10%, 4%, and 3%, respectively.Kaifa Technology's first-half profit went up 21% to 360.3 million yuan, while that of Jiangling Motors or JMC climbed 23% to 895.5 million yuan, and GEM's profit jumped 70% to 701.5 million yuan.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2463209369"}