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Shocked by the raise of interest rate by China's central bank, the SHSE-SZSE300 Index opened yesterday 72.78 points lower than the previous closing. But it soon rebounded, broke the key mark of 5,000 points in less than half an hour, and then inched up to the highest at 5,075.89 points, with an all-time high closing of 5,051.69 points. On the same day, the SSE Composite Index climbed to the highest of 4,999.20 points during business hours and finished at the record high of 4,980.08 points.
As the first cross-market A-share index jointly developed by the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE), the SHSE-SZSE300 Index tracks 300 stocks with large capitalization, ample liquidity and excellent performance on the SSE or the SZSE. It was officially launched on April 8, 2005, with the base day of December 31, 2004 and the starting index of 1,000 points. Since then, it has increased to 4,066.96 points, up 413%. Only this year, it has advanced 147.50% to 3,010.64 points. During the same period, the SSE Composite Index added 2,034.60 points, or 86.14%.
According to the data of China Securities Index Co., Ltd., in the CSI 300 Sector Index this year, the Health Care Index sees the highest increase by 193.49%, followed by the Materials Index by 185.06%. The Industrials Index, together with the Consumer Discretionary Index, overruns the increase rate of the SHSE-SZSE300 Index. The Telecommunication Services Index has the lowest increase rate of 52.59%. Financial and real estate sector weighs in the proportion of 28.93% in the SHSE-SZSE300 Index, followed by raw materials sector 24.29%, industrials sector 16.41% and telecommunication services the least, only 0.63%.
