FX.co ★ China Stocks Mixed Amid Lack of Catalyst

On Wednesday, the Shanghai Composite dipped by 0.15%, closing at 3,864, while the Shenzhen Component rose 1.02% to settle at 12,908, reflecting mixed trading activity as Chinese markets remained in search of definitive direction due to a lack of new domestic stimulants. Investors are now turning their attention to the upcoming Central Economic Work Conference in December, anticipating new policy directions for the forthcoming year. Technology and AI-related stocks continued their robust performance, with notable gains recorded by Zhongji Innolight (13.3%), Eoptolink Technology (8.7%), Victory Giant (4.5%), Cambricon Technologies (4.3%), and Foxconn Industrial (4.1%). Additionally, in corporate developments, Alibaba announced better-than-anticipated 34% growth in its cloud division. This growth helped mitigate the impact of a significant profit drop as the company increased investments in consumer subsidies and data centers to capitalize on AI-driven demand.