October 25, 2024 at 03:39 am EDT
(MT Newswires) -- Chinese shares closed higher on Friday despite the ongoing uncertainty surrounding new economic stimulus measures and the upcoming US presidential election.
The Shanghai Composite Index added 0.6%, or 19.44 points, to cap the trading week at 3,299.70. The Shenzhen Component Index climbed 1.7%, or 178.10 points, to 10,619.85.
While investors are anticipating the announcement of new stimulus measures from Beijing, caution prevails as the details remain unclear.
China's central bank on Friday kept the one-year medium-term lending facility operations unchanged at 2% as expected.
The outcome of the US presidential election also looms large, with potential implications for Sino-American trade relations.
In corporate news, Contemporary Amperex Technology (SHE:300750) or CATL closed 5.2% higher after launching its Freevoy Super Hybrid Battery, a new battery model for hybrid cars.
Additionally, several companies reported strong third-quarter earnings, boosting their stock prices.
Raytron Technology (SHA:688002) rose 4.1% after its attributable net profit soared 100% year on year to 259.1 million yuan and its operating income increased 28.5% to 1.13 billion yuan.
Beijing New Building Materials (SHE:000786) added 4.2% as its attributable net profit rose 8.2% to 931.2 million yuan and its operating income climbed 19.8% to 6.77 billion yuan.

Sumber : MT Newswires