China Stocks Rise as PBOC Holds Rates Steady
The Shanghai Composite rose 0.45% to close at 3,291 while the Shenzhen Component gained 1.27% to 9,906 on Monday, reversing losses from the previous session as the People’s Bank of China left key lending rates unchanged, signaling a focus on stabilizing the yuan amid ongoing economic uncertainty.
Investors remained cautious over the escalating trade tensions with the US, as no progress has been made toward direct negotiations between Beijing and Washington. Despite the uncertainty, mainland markets have seen a gradual recovery since the tit-for-tat tariffs started earlier this month, supported by state-backed buying from domestic financial institutions.
Technology stocks led the rally, with standout performances from Cambricon Technologies (+3.8%), Talkweb Information (+3.1%), Victory Giant (5.6%), Luxshare Precision (3.1%), and Shenzhen Forms (7.6%).
Source : Trading Economics
