On Wednesday, the Shanghai Composite Index edged up by 0.27%, closing at 4,151, while the Shenzhen Component Index saw a modest increase of 0.09%, settling at 14,342. This upward trend was supported by a rally in mining stocks due to stronger metal prices. Gold and silver reached new record highs, alongside a rebound in copper, as the U.S. dollar fell to its lowest level in four years, prompting investors to seek refuge in metals deemed as safe havens. Prominent individual performers included Zijin Mining and China Northern Rare Earth, both climbing about 4.2%, with CMOC Group, Hunan Silver Co., and Tonglin Nonferrous Metals each soaring approximately 10%.
In another significant development, China sanctioned the import of Nvidia's H200 artificial intelligence chips for the first time, signaling a move to balance AI demand while fostering domestic production growth. This announcement fueled gains in AI-related stocks, with Zhongji Innolight rising by 2%, Suzhou TFC Optical advancing 4.5%, and Giga Device Semiconductor increasing by 5.3%.
