China’s stock market booms on Monday opening following Meng Wanzhou’s return
Published: Sep 27, 2021 01:43 PM
Photo: VCG

Photo: VCG

China's stock market saw a boom on Monday, as the A-share market has gained strengthens amid better prospect of improved China-US relations, following Huawei's CFO Meng Wanzhou's return to China on Saturday.

The Growth Enterprise Market (GEM) index grew more than 2 percent on Monday opening. 

Meanwhile, Huawei concept shares, including shares related to HarmonyOS, Huawei car unit and its chip unit HiSilicon, all surged on Monday opening, with shares related to HarmonyOS recording the largest gain, up 5.95 percent.  

Some technology stocks also saw an increase in prices, with the price of ArcherMind Technology Nanjing Co rising more than 8 percent. 

Shares of BAIC BluePark New Energy Technology hit its daily 10 percent upward limit right after Monday opening, as the company issued an official statement on Monday announcing its subsidiary, BAIC BJEV, has signed a comprehensive business deepening cooperation agreement with Huawei to jointly build "ARCFOX" and "HI" brands. 

However, the stock market experienced a fall around midday, with the Shanghai composite index falling 1.3 percent and the Shenzhen Component index down 0.55 percent while the GEM index rose 0.43 percent.

Meng Wanzhou arrived at the Shenzhen Baoan Airport Saturday night from Vancouver after she was freed by the US and Canadian authorities that found her not guilty, with no punishment in fraud charges.

Global Times