FX.co ★ China Stocks Wobble as Policy Meetings Eyed

On Wednesday, the Shanghai Composite saw a slight decline of 0.2%, settling at approximately 3,890, while the Shenzhen Component experienced a 0.3% uptick, reaching 13,095. This reflects a mixed performance in mainland stocks as investors adopted a cautious stance ahead of pivotal policy meetings scheduled for the month. Market participants are closely monitoring the annual Central Economic Work Conference and the December Politburo meeting for guidance on Beijing’s policy strategy and economic growth targets for the coming year. Additionally, a private survey revealed that November witnessed the slowest expansion in China's services sector in five months, linked to a deceleration in new business growth. In terms of individual equities, ZTE Corp fell by 1.6%, Sai MicroElectronics dropped by 6.9%, and Shenzhen Everwin decreased by 4.8%. Conversely, Eoptolink Technology surged by 6.3%, Zhongji Innolight rose by 1.1%, and Foxconn Industrial climbed by 2.4%, showcasing notable gains.