FX.co ★ China Stocks Mixed as Property Sector Weighs

On Thursday, the Shanghai Composite Index climbed by 0.29% to reach 3,875, while the Shenzhen Component Index saw a decline of 0.25%, closing at 12,875. The mainland markets faced difficulty finding a definite trend, as gains in technology stocks were dampened by mounting concerns in the real estate sector. Shares of China Vanke declined sharply, plunging 7.1%, after the property giant announced plans to postpone its onshore bond repayment—a first for the company. On the flip side, stocks associated with high-growth tech and artificial intelligence witnessed advances, influenced by positive developments on Wall Street where a more aggressive rate-cutting trajectory by the U.S. Federal Reserve is anticipated. Eoptolink Technology rose by 2.9%, Foxconn Industrial grew by 2.3%, and ZTE Corp increased by 3.3%. Furthermore, the U.S. Department of Defense has determined that Alibaba, Baidu, and BYD should be added to the list of companies believed to support the Chinese military.