(Yicai Global) Jan. 7 – China's three major stock indexes opened higher this morning, along with Hong Kong's Hang Seng, while the high-speed train, ultra-high voltage and superconductor sectors were among the best performers.
The Shanghai Composite Index opened up 0.55 percent at 2,528.70. The Shenzhen Component Index rose 0.67 percent to 7,333.32. The Growth Enterprise Index, also based in Shenzhen, rose 0.42 percent to 1,250.40 while the Hang Seng Index was up 1.52 percent at 26,015.84.
Sectors including high-speed rail, superconductor, ultra-high voltage and unmanned retail led the gains while gold stocks and the Fujian Free Trade Zone saw the biggest falls.
The market is expected to rebound in the short-term, and 2,440 points may represent a bottoming-out level for the Shanghai Composite Index, an analyst from Founder Securities stated on stock information exchange platform Eastmoney.