Chinese stocks rose on Monday as the country’s stock markets opened after a week-long Spring Festival holiday.
The ChiNext index, China’s Nasdaq-style growth enterprise board, jumped nearly 3 percent at the market open and ended the day up 1.08 percent.
The Shanghai Composite Index rose 0.14 percent, and the Shenzhen Composite Index rose 0.98 percent at market close.
Official data showing a recovery in China’s domestic tourism and box office over the Chinese New Year holiday boosted investor sentiment.
US investment bank Goldman Sachs raised its target for the MSCI China index twice in January.
The bank raised its forecast for China’s gross domestic product growth to 5.5 percent in 2023 from a forecast of 4.5 percent in November.