China Stock Market Summary 2023

Posted on 2023-11-17

Following the collective retracement of the three major indices in 2022, the three major A-share indices continued their collective retracement this year, with the Shanghai Index accumulating 3.7%, the Shenzhen Composite Index accumulating 13.54%, and the GEM Index accumulating 19.41%. The NSE 2023 was relatively strong, with the NSE 50 accumulating 14.92%.

 Throughout the year, the A-share size index diverged significantly, with small-cap stocks relatively strong. Specifically, the SSE 50 and CSI 300, which represent large-cap stocks, fell significantly, down 11.73% and 11.38% respectively during the year. On the other hand, the national securities 2000, which represents small-cap stocks, fell less, with a cumulative decline of only 1.16% during the year.

 Looking around the world, this year, the world's important stock indexes rose more and fell less, Nasdaq with 44.22% of the increase in the first, followed by Nikkei 225 with 28.24% of the increase. The S&P 500, Germany's DAX30, and the Korea Composite Index also rose.

 In addition, the U.S. dollar index fell by a total of 2.17% during the year, and some non-U.S. currencies appreciated slightly during the year. Commodities, NYMEX crude oil fell 10.52% during the year, COMEX gold rose 13.42% during the year. (European and American stock indexes, commodities, foreign exchange as of the close of trading on 28 December)

 Communications industry rose more than 25%

 From the industry index, Shenwan level 31 industries, 10 industries closed up in 2023, communications in the first place, 2023 cumulative rise of more than 25%. Media followed closely behind, with a cumulative rise of more than 16% during the year. Computers, electronics, and petroleum and petrochemicals also rose.

 Conversely, Beauty Care was the largest cumulative declining sector for 2023, down more than 32%. Commerce & Retail followed with a cumulative decline of over 31%. Real Estate, Power Equipment, Construction Materials, and Social Services also lost more than 20% cumulatively.


The A-share company with the largest increase in market capitalisation in 2023 was China Mobile, which increased its market capitalisation by 682.2 billion yuan to the latest 2.13 trillion yuan. PetroChina followed with a market capitalisation increase of RMB 382.5 billion over the year. China National Offshore Oil, Agricultural Bank of China and Bank of China also led in 2023 market capitalisation increase.


On the contrary, China CDFG is the stock with the largest decrease in market capitalisation in 2023 at $273.8 billion and its latest market capitalisation is $173.1 billion. China Life is the second largest stock to decrease in market capitalisation in 2023, at 247.9 billion yuan, and its latest market capitalisation is 801.3 billion yuan. Ningde Times, China Merchants Bank, and BYD also led in 2023 market cap reduction.

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