Chinese shares were mixed as investors are cautious over the possibility of equities gaining again after the new year, following a string of stimulus in the past few months that boosted sentiment.
The Shanghai Composite Index, the main gauge of Chinese stocks, added 0.2%, or 7.18 points, to finish Monday's trade at 3,407.33. The Shenzhen Component Index marginally climbed to 10,671.16.
A strategist at CITIC Securities (SHA:600030, HKG:6030) said that the market is anticipated to remain active in the first half of January 2025 after new fiscal measures uplifted market sentiment. Policy bets are expected to pick up again after the Lunar New Year, according to a report from Business Recorder.
However, sentiment might become dampened in the latter half of January due to rising external disturbances.
In corporate news, Air China Cargo (SHE:001391) surged 304% at its trading debut on the Shenzhen Stock Exchange, with each share closing 9.30 yuan, more than four times higher than the initial offering price of 2.30 yuan.
Moreover, Sichuan Chuanhuan Technology (SHE:300547) surged 9% after receiving an order to supply 60,000 sets of liquid cooling piping systems to a server overall solution service provider.
Lotus Holdings (SHA:600186) jumped 5.7% at the close after its tech unit signed a 555.4 million yuan deal to provide computing services to Shanghai X State-owned Enterprise.
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