FX.co ★ China Stocks Rally on New Energy Boost

The Shanghai Composite Index surged by 0.73%, closing at 4,030, while the Shenzhen Component Index increased by 1.78%, reaching 13,477 on Thursday. This rise saw the Shanghai Composite hitting a new decade-high, propelled by a strong performance in new energy stocks. The surge was fueled by an announcement from China's Ministry of Industry and Information Technology, which is set to reveal a comprehensive plan to bolster the new energy battery sector and enhance associated infrastructure. Among the top performers were Contemporary Amperex, which rose by 7.6%, Sungrow Power with a 1.5% increase, Do-Fluoride New Materials climbing 10%, TBEA Co up by 2.2%, and EVE Energy with a 9.2% gain. Meanwhile, investors are keenly anticipating key Chinese economic data, as October's credit figures are expected later today, followed by reports on retail sales, industrial production, and fixed asset investment to be released on Friday.