FX.co ★ China Stocks Edge Higher as Lujiazui Forum Kicks Off

On Wednesday, the Shanghai Composite increased marginally by 0.04% to close at 3,389, while the Shenzhen Component saw a rise of 0.24%, ending at 10,176. This recovery from early declines coincided with the commencement of the annual Lujiazui Forum in Shanghai. Although leading financial regulators did not unveil significant new policy directions in their addresses, the China Securities Regulatory Commission committed to fostering the development of science and technology bonds to further innovation, alongside the foreign exchange regulator's pledge to maintain yuan stability. Investors are now eagerly anticipating the upcoming July Politburo meeting for more definitive economic support initiatives. Additionally, focus shifts to the People's Bank of China later this week, where it is expected that loan prime rates will remain steady. Technology stocks were at the forefront of the gains, with impressive performances from companies such as Zhongji Innolight, Eoptolink Technology, and Victory Giant, which saw increases of 4.8%, 4.8%, and 5.3%, respectively.