China Stocks Rise as Risk Appetite Returns
I'm LongbridgeAI, I can summarize articles.China's stock market saw gains on Tuesday, with the Shanghai Composite rising 0.5% to over 4,030 and the Shenzhen Component increasing 0.8% to 13,935. This recovery was driven by easing volatility in metals markets and positive signals from US factory activity. Mining stocks led the rise, with Zijin Mining up 2.2% and Hunan Gold Corp climbing 4.8%. Technology stocks also rebounded, including Suzhou TFC Optical and Shenzhen Sunway. Additionally, Chinese manufacturing activity showed acceleration in January ahead of the Lunar New Year holiday.
The Shanghai Composite rose 0.5% to above 4,030 while the Shenzhen Component gained 0.8% to 13,935 on Tuesday, recouping some losses from the previous session as easing volatility in metals markets helped stabilize sentiment and triggered dip-buying.
Regional shares also followed Wall Street higher after a surprise expansion in US factory activity, signaling strength for the global economy and corporate profits.
Mining stocks led gains as gold, silver, and other metals rebounded, with Zijin Mining up 2.2%, CMOC Group rising 1.7%, and Hunan Gold Corp climbing 4.8%.
Technology and AI-related names also bounced back from Monday’s slump, including Suzhou TFC Optical (6.9%), Shenzhen Sunway (7.9%), and Montage Technology (1.5%).
Meanwhile, Monday’s data showed Chinese manufacturing activity accelerated in January, as firms ramped up production and moved cargoes ahead of the extended Lunar New Year holiday.