FX.co ★ China Stocks Rise on Hopes of Extended Trade Truce

The Shanghai Composite Index increased by 0.45%, closing at 3,634 on Wednesday, while the Shenzhen Component Index advanced by 0.64% to reach 11,178. This marked the third consecutive session of gains driven by heightened optimism surrounding the advancement of US-China trade negotiations. President Donald Trump mentioned that an agreement to prolong the current trade truce, due to conclude on August 12, is "very close." He also hinted at plans to meet with Chinese President Xi Jinping once the negotiations are finalized, potentially occurring before the year’s end. Additionally, investors are keenly anticipating new trade and inflation data from China to evaluate the effects of evolving global trade dynamics on the domestic market. Among the prominent gainers were China CSSC, rising by 10%; Victory Giant, up by 4.3%; Sunward Intelligence, increasing by 1.9%; Eoptolink Technology, up by 2.2%; and Wolong Electric, climbing by 6.7%.