05.11.202507:21:51UTC+00China Stocks Reverse Early Losses

On Wednesday, the Shanghai Composite Index saw a modest increase of 0.23%, closing at 3,969, while the Shenzhen Component Index rose by 0.37% to finish at 13,223. Both indices managed to recover from their earlier declines, driven by bargain hunters entering the market, as investors remained focused on forthcoming key economic data. This week, market participants eagerly anticipate China's October trade and inflation statistics, which are expected to provide insights into the economy's robustness, notwithstanding escalating Sino-US trade tensions during the previous month. A recent private survey indicated that growth in the services sector decelerated to a three-month low in October. Concurrently, Premier Li Qiang projected that China's economy would exceed CNY 170 trillion within the next five years, while committing to further opening its domestic consumer market to international businesses, following the latest trade agreement with the United States. Noteworthy performers in the market included Sungrow Power, gaining 7.1%, Foxconn Industrial with a 2.4% increase, Contemporary Amperex up by 2.6%, TBEA Co advancing 10%, and Victory Giant rising by 1.3%.