Shanghai Composite closes above 3,500 for first time since 2022

China’s benchmark Shanghai Composite Index rose 0.48 percent to close at 3,509.68 points on Thursday, marking its first close above the 3,500-point level since January 2022. The rally was driven by strong gains in property and financial stocks amid speculation of further stimulus measures.

Meanwhile, the Shenzhen Component Index climbed 0.47 percent to end at 10,631.13 points. The ChiNext Index, which tracks China’s Nasdaq-style board for growth enterprises, edged up 0.22 percent to finish at 2,189.58 points.