Chinese markets reopen on October 9 after the Golden Week break, with investors weighing renewed interest in AI against signs of subdued consumer spending.

The CSI 300 Index, tracking major mainland stocks, has risen for five consecutive months through September, its longest run since 2017, driven by enthusiasm for chip stocks and AI developments.

Despite an 18% gain this year, Chinese stocks remain valued below global peers, with the MSCI China Index trading at less than 14 times forward earnings.

Travel during Golden Week increased nearly 7% year-on-year, but this was down from the 8% rise during May’s Labor Day holiday.

Holiday data showed that many households opted for cheaper travel options, such as road trips, while box office and airline sales fell below expectations.

🔗 Source: Bloomberg