FX.co ★ China Stocks Advance on Wall Street Momentum

The Shanghai Composite Index increased by 0.3%, surpassing the 3,500 mark, while the Shenzhen Component Index inched up by 0.1% to settle at 10,590 on Thursday. This movement marks a recovery from the previous session's downturn, inspired by a robust performance in US markets where technology stocks surged due to ongoing excitement around artificial intelligence. Investors are also contemplating global trade changes following US President Donald Trump's announcement of a 50% tariff on Brazilian imports, to be enforced starting August 1, as a response to what he termed as unfair trade practices. Domestically, attention is focused on the upcoming Chinese trade data expected over the weekend, which could provide insights into the repercussions of US-China trade relations. Among the standout performers were China Northern Rare Earth with a 6.1% rise, CNPC Capital up by 6%, Shenzhen Forms with a 5.3% increase, Global Top E-Commerce jumping by 10%, and Shanghai DZH gaining 1.3%.