Briefing: Mainland Stocks Soar After Holiday

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Chinese mainland stocks jumped on Tuesday, with the Shanghai Composite Index rising 4.59%. Photo: VCG

A run-down of key developments in China over the past 24 hours:

Post-holiday rally: Major Chinese mainland stock indexes surged (link in Chinese) on the first trading day after the weeklong National Day break. The Shanghai Composite Index finished 4.6% higher Tuesday after rising by the daily limit early in the day. The combined trading volume on the Shanghai and Shenzhen exchanges hit a record due to strong investor sentiment. However, analysts warned that soaring stock prices could lead to increased volatility. In contrast, Hong Kong stocks retreated after rallying over the holiday. The benchmark Hang Seng Index slumped more than 9% Tuesday.

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China's stock market surged post-National Day, with the Shanghai Composite Index rising 4.6%, contrasting with the Hang Seng Index's 9% drop.
Domestic travel during the holiday increased to 765 million trips, with spending reaching 700.8 billion yuan, surpassing pre-Covid levels.
Former Justice Minister Tang Yijun was expelled from the Communist Party over corruption allegations, including accepting bribes and misconduct.

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