FX.co ★ China Stocks Rally on Tech, Finance Boost

On Wednesday, the Shanghai Composite advanced by 0.8% to surpass the 3,400 mark, while the Shenzhen Component rose by 0.4% to reach 10,330. This marked a climb to over one-month highs, driven by upticks in the technology and financial sectors. Moreover, Chinese stocks have managed to rebound fully from the losses incurred following U.S. President Donald Trump's imposition of comprehensive tariffs in early April. Over the recent weekend, productive discussions between China and the U.S. took place in Switzerland, resulting in a temporary reduction in tariffs to 10% and 30%, respectively, for a 90-day period—a significant easing in the ongoing trade tensions. Nonetheless, uncertainty remains about the situation post the temporary agreement, with additional negotiations anticipated soon. The technology sector led the charge, with standout performers including East Money (+5.6%), Avid Chengdu (+3.3%), and Eoptolink Technology (+3.9%). Significant advancements were also observed in the financial sector with Ping An Insurance (+4.8%), Citic Securities (+3.8%), and China Pacific Insurance (+8.2%) posting notable gains.