China Stocks Track Asian Peers Higher
The Shanghai Composite rose 0.4% to 3,676 on Tuesday, while the Shenzhen Component advanced 0.9% to 11,246, tracking gains across Asian markets as a tech rally and falling oil prices lifted risk appetite. Technology stocks advanced despite a slump in Nvidia shares following reports of a probe into CEO Jensen Huang over an alleged affair with a woman identified as a suspected Chinese spy. Meanwhile, oil prices extended their decline as US President Donald Trump signaled a potential de-escalation of the conflict with Iran. Domestically, investors now await China’s trade figures for clues about external demand. Gains in the tech space were led by hardware and optical equipment suppliers, with Eoptolink Technology surging 7.3%, Zhongji Innolight climbing 6.9%, and NAURA Technology adding 2.1%. State-owned banking giants also supported the market, as Industrial and Commercial Bank of China rose 2%, China Construction Bank added 1.9%, and Agricultural Bank of China gained 1.5%.
The Shanghai Composite rose 0.4% to 3,676 on Tuesday, while the Shenzhen Component advanced 0.9% to 11,246, tracking gains across Asian markets as a tech rally and falling oil prices lifted risk appetite. Technology stocks advanced despite a slump in Nvidia shares following reports of a probe into CEO Jensen Huang over an alleged affair with a woman identified as a suspected Chinese spy. Meanwhile, oil prices extended their decline as US President Donald Trump signaled a potential de-escalation of the conflict with Iran. Domestically, investors now await China’s trade figures for clues about external demand.
Gains in the tech space were led by hardware and optical equipment suppliers, with Eoptolink Technology surging 7.3%, Zhongji Innolight climbing 6.9%, and NAURA Technology adding 2.1%. State-owned banking giants also supported the market, as Industrial and Commercial Bank of China rose 2%, China Construction Bank added 1.9%, and Agricultural Bank of China gained 1.5%.