China's Benchmark Index Posts First Annual Gain Since 2021

China's Benchmark Index Posts First Annual Gain Since 2021

Chinese shares ended lower, with the benchmark Shanghai Composite Index recording an annual gain of 13% following a two-year decline.

Energy and telecom stocks led the gains, with CSI Solar and ENN Natural Gas rising by 3.1% and 2.1%, respectively. China Mobile gained 1.55%. Meanwhile, semiconductor and brokerage stocks led the losses, with Cinda Securities and Capital Securities down 6.6% and 5.8%, respectively. GigaDevice Semiconductor lost 6.2%.

The benchmark Shanghai Composite Index dropped 1.6% to 3,351.76, and the Shenzhen Composite Index lost 2.5%. The ChiNext Price Index fell 2.9%.