FX.co ★ China Stocks Gain for Second Session

The Shanghai Composite Index increased by 0.6% to surpass 3,880, while the Shenzhen Component Index rose by 1.2% to reach 12,980 as of Tuesday. This marks the second consecutive session of gains for mainland Chinese stocks, driven by a reduction in Sino-US trade tensions that continues to bolster market sentiment. U.S. President Donald Trump has expressed optimism about achieving a fair trade agreement with China's President Xi Jinping during their anticipated meeting in South Korea later this month. Meanwhile, trade officials from both countries are scheduled to meet in Malaysia this week in efforts to ease tensions. In corporate developments, the major electric vehicle battery company Contemporary Amperex reported a Q3 net profit increase of 41.2% compared to the same period last year, up from 33.7% in Q2, signaling resilience amidst rising competition, resulting in a roughly 3% climb in their stock value. Additionally, Foxconn Industrial saw a 4% rise following Apple's announcement of robust iPhone 17 sales in both the U.S. and China, where Foxconn plays a key role as a manufacturing partner.