In particular, shares of companies from the consumer sector are doing well on the Shanghai Stock Exchange. Thanks to them, the aggregate index gained 0.79 percent in the middle of the week. Shares in Shanghai have already firmed 3.5 percent since the start of the Winter Olympics.
Chinese giant Kweichow Moutai, which produces several types of liquor and other algological drinks, was the driver of Wednesday’s trading on the Shanghai Stock Exchange. Its shares gained 1.22 percent, and the entire segment added nearly three percent. Overall, the stock market was dominated by shares of companies in the consumer sector.
China’s smaller Shenzhen Stock Exchange also strengthened during Wednesday, with its overall index firming by more than 1.5 percent. The segment comprising shares of companies in the consumer sector also performed well. Technology start-ups, on the other hand, headed in the opposite direction.
The Hang Seng index of the Hong Kong Stock Exchange recorded even stronger growth, firming by more than two per cent. Its appreciation was mainly driven by shares of Chinese companies, which added 2.35 per cent in aggregate. Alibaba Group shares were the strongest riser, up 6.12 per cent. The technology sub-index of the Hong Kong stock exchange added 3.13 percent.
