China Stocks Climb to Begin the Year
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The Shanghai Composite rose 0.9% to over 4,000, and the Shenzhen Component gained 1.8% to 13,760, reaching multi-week highs as Chinese markets reopened after the holiday. Technology stocks led the gains, with notable increases in companies linked to artificial intelligence. Clean energy and defense stocks also performed well. A private survey indicated continued expansion in business activity in China for the seventh month, driven by stronger services and factory output, while investors largely ignored geopolitical tensions following a US attack on Venezuela.
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