FX.co ★ Shanghai Stocks Gain for Third Session

On Thursday, the Shanghai Composite Index advanced by 0.16%, closing at 4,158, marking its third consecutive day of gains. This upward trend was primarily driven by mining stocks, thanks to stronger metal prices. Precious metals such as gold, silver, and copper reached new peaks, as geopolitical and trade tensions heightened the demand for safe-haven assets. Additionally, a dip in confidence in the US dollar further encouraged investors to turn towards metals. Significant performers in the mining sector included Zijin Mining, which rose by 2.7%, China Northern Rare Earth with a 6.1% increase, CMOC Group up by 0.6%, Aluminum Corporation which surged by 7.5%, and Tongling Nonferrous Metals advancing by 10.1%. The property sector also saw positive movement following reports that regulatory bodies will no longer require developers to submit certain metrics intended to limit debt accumulation. Meanwhile, Goldman Sachs forecasts that Chinese equities could attract approximately $518 billion in new domestic investments this year, driven by robust corporate earnings and improving market sentiments.