Mixed Close of Chinese Stock Market After Holiday Amid 'Hengda Bankruptcy Rumors'

[Image source=Yonhap News]

[Asia Economy Reporter Kim Eun-byeol] The Chinese stock market, which reopened after the Mid-Autumn Festival (Chuseok) holiday, closed mixed on the 22nd.

Amid ongoing bankruptcy rumors surrounding Chinese real estate developer Hengda Group, the People's Bank of China supplied liquidity to the market, somewhat reducing the morning session's losses.

On the day, the Shanghai Composite Index closed at 3628.49, slightly up 0.40% from the previous trading day. In contrast, the Shenzhen Composite Index fell 0.25% to 2440.05, and the Shenzhen Component Index dropped 0.57% to 14,277.08.

The ChiNext Index, reflecting the trend of small and medium-sized tech stocks on the Shenzhen Stock Exchange, ended the day down 0.91% at 3164.33.

On the same day, the People's Bank of China announced it would supply 120 billion yuan in liquidity to the market through reverse repurchase agreements (reverse repos). Additionally, Hengda Group announced it would pay interest on its onshore bonds due on the 23rd on time.

This content was produced with the assistance of AI translation services.