China Stock Market Forecast

Shanghai Stock Market Declines Amid Economic Growth Concerns

August 14, 2024

The Shanghai Stock Exchange Composite Index, China's benchmark stock market index, has declined by 117 points or 3.92% since the beginning of 2024, raising concerns about the country's economic prospects.

The decline comes despite China's ambitious goal of achieving 5% economic growth in 2024. The country's economy has slowed in recent months due to factors such as the COVID-19 pandemic and a global economic slowdown.

Asian equities were largely higher today, with the MSCI Asia Pacific Index excluding Japan rising 0.3%. However, Singapore's Straits Times Index and Thailand's SET Index bucked the trend, declining 0.2% and 0.3%, respectively.