China stocks end mixed as support measures boost confidence

Chinese stock markets ended mixed on Monday. The Shanghai Composite gained 0.85% to close at 3,796.3, while the Shenzhen Component fell 0.71% to 13,610.2.

Investors reacted to fresh government efforts to support the stock market, with state-backed firms increasing their investments in Chinese shares and pledging to buy more. Reports also said the securities regulator will meet market participants to discuss measures to help keep the market stable.

Meanwhile, the People's Bank of China kept its key lending rates unchanged for the 14th straight month, even after weaker-than-expected second-quarter economic growth highlighted the country's uneven recovery.

Bank stocks led the gains, with ICBC and Agricultural Bank of China among the top performers, while technology stocks such as Victory Giant Technology and Huagong Tech came under selling pressure.

 

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