The Economic Information Daily reported on the 29th that the State Council's executive meeting proposed studying measures to stabilize the real estate market, prompting property stocks to surge in early trading. The Shanghai and Shenzhen stock markets opened lower but then rose, with the SSE Composite Index up 0.08% at midday, closing at 4,106 points; the Shenzhen Component Index rose 0.41%, and the ChiNext Index gained 0.34% in morning trading. With trading days sandwiched between the Mid-Autumn Festival and National Day holidays, investor sentiment remained quiet, with combined turnover in both markets reaching only 876.2 billion yuan (RMB, same below) in the morning session, down 284 billion yuan or 24.5% compared to the same period on the previous trading day.
On the trading floor, property stocks led the gains, with the sector closing up 3.8% in morning trading. Binjiang Group (SZ: 002244) and Shennongwu A (SZ: 000011) hit their daily trading limits. Premier Li Qiang chaired the State Council's executive meeting, which emphasized accelerating the implementation of various policies while introducing a batch of practical incremental policies and optimizing fiscal spending arrangements. Regarding incremental policies, the meeting mentioned studying measures to stabilize the real estate market and promote employment and income growth.
Additionally, solid-state battery概念股 surged, with Guoxuan Hi-Tech (SZ: 002074) hitting its trading limit. The company announced that it and its wholly-owned subsidiaries plan to sign an investment agreement with Volkswagen (Hong Kong translation: "Fook Si Automotive") and its battery subsidiary PowerCo to establish three joint ventures in Valencia, Spain; Zilina, Slovakia; and Kenitra, Morocco, to build lithium battery and cathode material production bases, with total project investment expected to be approximately 3.222 billion euros.
On the downside, lab-grown diamonds led declines, agricultural planting stocks pulled back, and energy stocks such as coal and oil mostly fell. (ry)
On the trading floor, property stocks led the gains, with the sector closing up 3.8% in morning trading. Binjiang Group (SZ: 002244) and Shennongwu A (SZ: 000011) hit their daily trading limits. Premier Li Qiang chaired the State Council's executive meeting, which emphasized accelerating the implementation of various policies while introducing a batch of practical incremental policies and optimizing fiscal spending arrangements. Regarding incremental policies, the meeting mentioned studying measures to stabilize the real estate market and promote employment and income growth.
Additionally, solid-state battery概念股 surged, with Guoxuan Hi-Tech (SZ: 002074) hitting its trading limit. The company announced that it and its wholly-owned subsidiaries plan to sign an investment agreement with Volkswagen (Hong Kong translation: "Fook Si Automotive") and its battery subsidiary PowerCo to establish three joint ventures in Valencia, Spain; Zilina, Slovakia; and Kenitra, Morocco, to build lithium battery and cathode material production bases, with total project investment expected to be approximately 3.222 billion euros.
On the downside, lab-grown diamonds led declines, agricultural planting stocks pulled back, and energy stocks such as coal and oil mostly fell. (ry)
