China Stocks Gain on Defense, Aerospace Boost
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China's Shanghai Composite and Shenzhen Component indices rose by 0.6% and 0.8%, respectively, driven by gains in defense and aerospace stocks. This follows a proposed $11 billion US arms sale to Taiwan, prompting China to potentially enhance its military capabilities. Top gainers included Fujian Snowman, China Spacesat, and Aerospace Intelligent Manufacturing. Technology and AI stocks also advanced, and Chinese equities mirrored Wall Street's gains due to cooler-than-expected US inflation data, raising hopes for further Federal Reserve rate cuts.
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