China stocks steady as metals rally counters consumer, AI losses
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China stocks remained steady on Wednesday, with metal-linked stocks offsetting losses in consumer and AI sectors. The CSI300 Index fell 0.2%, while the Shanghai Composite rose 0.2%. The CSI Non-ferrous Metal Industry Index surged 3.2%. The central bank plans to enhance financial support to boost domestic demand amid weak consumption. Consumer staples dipped 0.2%, and AI shares dropped 1.7%. UBS predicts a release of excess savings by 2026, potentially boosting market investments. Policymakers aim for sustainable growth while managing market pace. WuXi Biologics shares rose 4% on strong earnings.
Source: Reuters The copyright of this article belongs to the original author/organization.
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