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China's benchmark Shanghai Composite Index once reached and surpassed 3000 points on Friday morning trading, recovering all the losses since the beginning of 2024.

As of press time, the index increased 0.02 percent, rising from 2635.09 to 2988.87 during the nine trading days until Friday.

"With the recent rapid repair of market sentiment, the Shanghai index is approaching 3000 points, further boosting investor confidence," Guosheng Securities said on Friday.

[The stock market performance] is mainly because regulators have taken an array of measures to effectively maintain market stability, and monetary and fiscal policies are also escorting the capital market, the institution noted.

As of Thursday, Chinese stocks rose for 7th day amid crackdown on abnormal trading. The China Securities Regulatory Commission (CSRC) said on Thursday that domestic stock exchanges have taken regulatory measures to address abnormal trading by certain institutions, but these moves are not meant to restrict selling.

The CSRC, led by its newly appointed chairman Wu Qing, held more than 10 back-to-back meetings within two days this week with a wide range of market participants to solicit suggestions on regulations, risk prevention and high-quality development.

The Shanghai and Shenzhen stock exchanges both announced that they will strengthen monitoring of quant trading, especially abnormal trading behaviors and leveraged products, according to statements posted on their websites late on Tuesday. Meanwhile, new private equity funds are required to report their investment strategies to financial regulators before trading.

Global Times