The Shanghai Composite climbed 19 points, or 0.6%, to approximately 3,370, while the Shenzhen Component advanced 0.9% to 10,632 in early trading on Tuesday, rebounding from losses in the prior session.
China stocks trade notably higher
The recovery mirrored strong overnight gains on Wall Street, driven by solid performances from major tech and semiconductor stocks. Investor sentiment was also buoyed by expectations of increased government spending and further interest rate cuts in China next year, following clear signals from China’s top leaders earlier in December. Additionally, a report by Chinese state media outlet Global Times highlighted a positive outlook from foreign institutions on China's capital markets for 2025, citing prospects of gradual economic stabilization.
Biggest winners
Early market leaders included Shanghai Pudong Development Bank (up 1.8%), China Merchants Bank (1.3%), Jiangsu Hengrui Pharmaceuticals (1.3%), China Petroleum & Chemical (1.2%), and Wanhua Chemical Group (1.1%).
