China Stocks Jump on Tech Boost
China stocks surged with the Shanghai Composite up 0.9% and Shenzhen Component rising 2.3%, driven by tech and AI stocks. Optimism for a Fed rate cut and improved Sino-US relations boosted sentiment. Key tech gainers included Zhongji Innolight, Eoptolink Technology, Foxconn Industrial, Zhejiang Sanhua, and BlueFocus Intelligent.
The Shanghai Composite rose 0.9% to above 3,870, while the Shenzhen Component jumped 2.3% to 12,870 on Tuesday, extending gains from the previous session as technology and artificial intelligence stocks led the market higher.
Mainland shares also followed a tech-driven rally on Wall Street overnight amid renewed optimism for a Federal Reserve interest rate cut in December.
Sentiment was further supported after Chinese President Xi Jinping and US President Donald Trump held a phone call on Monday, their first discussion since agreeing on a trade deal last month, signaling improving Sino-US relations.
Key tech gainers included Zhongji Innolight (7.6%), Eoptolink Technology (7.1%), Foxconn Industrial (3.6%), Zhejiang Sanhua (3.4%) and BlueFocus Intelligent (5.6%).
