FX.co ★ China Stocks Rise on Strong Services Data

On Tuesday, the Shanghai Composite climbed 0.4% to approximately 3,600, while the Shenzhen Component rose by 0.35% to reach 11,080, continuing the upward momentum from the previous trading day. This positive trend was fueled by upbeat economic data, with China's services sector growing at its fastest rate in 14 months during July, driven by increased foreign demand. Additionally, optimistic trade sentiments bolstered the market, as investors remain attentive to the possible extension of the US-China trade agreement ahead of the August 12 deadline. High-growth industries, particularly in technology and healthcare, spearheaded the market's progress. Leading the gains were companies such as Zhongji Innolight, up 1.2%, Foxconn Industrial, which increased by 2.1%, Anhui Greatwall with a 10% rise, Hybio Pharmaceuticals at 8.6%, and Wuxi Apptec advancing by 1.8%.