FX.co ★ China Stocks Rebound on Tech, New Energy Boost

On Wednesday, the Shanghai Composite Index advanced by 0.83% to close at 3,854 points, while the Shenzhen Component Index surged 1.8%, reaching 13,356 points — marking a new 3.5-year high driven by strong performance in technology and renewable energy stocks. Market sentiment improved amid indications of easing trade tensions between the US and China. However, US Ambassador to China, David Perdue, stated that the highly anticipated meeting between President Donald Trump and President Xi Jinping is more likely to occur next year rather than this autumn. Additionally, the People's Bank of China decided to maintain the status quo on key lending rates this week but committed to deploying policy instruments to bolster liquidity and economic growth. Leading gainers included Luxshare Precision with a 7.4% rise, Sungrow Power also up by 7.4%, Shenzhen H&T Intelligent increasing by 1.7%, Contemporary Amperex up by 3.2%, and Hygon Information gaining 2.1%.