Apr 10, 03:40 AM

Chinese Stocks Rally as Southbound Stock Connect Inflows Hit 29.63 Billion Yuan; Shanghai Composite Up 1.3%, Alibaba Up 3.6%

Chinese stock markets experienced a substantial rally, driven by strong inflows from mainland investors. The Southbound Stock Connect saw net buying reach a historic high of 29.63 billion yuan, marking the strongest day ever for inflows into Hong Kong stocks. The Shanghai Composite Index closed up 1.3% at 3,186.81, while the Shenzhen Component Index rose by 1.2%. The Hang Seng Index gained 0.12%, with the Hang Seng Tech Index increasing over 2%. Major Chinese stocks such as Alibaba, JD.com, and Bilibili also saw notable gains, with Alibaba rising 3.6% and JD.com increasing by 4.2%. The iShares MSCI China ETF and other related ETFs recorded increases of 3.2% to 4.4%. Overall, investor confidence appears to be bolstered by recent policy measures aimed at stimulating the market.