In September 2024 the Chinese equity markets experienced a substantial rebound. Driven by favourable policy measures, market sentiment was notably boosted. Among sectors, real estate, internet, and financials were the top performers, rising by 25.1%, 22.1% and 15.6%, respectively. The real estate sector led the gains, largely benefiting from various government measures aimed at stabilising the property market.

In August, the Chinese equity market experienced a series of fluctuations, largely driven by weaker quarterly earnings reports from many companies. Additionally, the opening of closed-end funds for redemption triggered localised liquidity events. In terms of sectors, petrochemicals and coal showed relative resilience, whereas national defence, agriculture, beauty, construction materials, and steel faced the most adjustments. Nevertheless, some sectors still exhibited overall growth and marginal improvements in quarterly performance, such as agriculture, telecommunications, electronics, insurance, wind power, chemical materials, and industrial metals.

Chinese equity markets experienced a dynamic month in July, but all indices ultimately ended down. While most major sectors performed better than the previous month, the cyclical sector lagged, revealing clear differences among various sub-sectors. Among all sectors, non-bank financials ranked first, while national defence also did relatively well. In contrast, the energy and consumer sectors, particularly coal, textiles, petrochemicals, light manufacturing, and non-ferrous metals, were the main contributors to the overall downtrend.