12.09.202502:23:51UTC+00China Stocks Track Global Peers Higher

On Friday, the Shanghai Composite index advanced by 0.2%, surpassing the 3,880 mark, while the Shenzhen Component increased by 0.3%, reaching 13,020. Mainland Chinese stocks achieved multi-year highs, mirroring the upward trend observed in global markets. On Thursday, three major U.S. stock indices concluded the day at unprecedented heights, fueled by indications of a decelerating labor market and moderate inflation, bolstering the anticipations for further interest rate reductions by the Federal Reserve. Within China, technology stocks continued their upward momentum, driven by optimism in the artificial intelligence and semiconductor sectors. Noteworthy gainers included Luxshare Precision, which rose by 3.3%, Cambricon Technologies, up by 3.8%, Hygon Information Technology, which added 2.1%, Foxconn Industrial, climbing 3.9%, and Dawning Information Industry, which surged by 7.6%. Looking at the weekly performance, the Shanghai index is poised to increase by approximately 2%, while the Shenzhen index is set to rise by about 3.5%.