China Stocks Surge with Defence and Tech Gains Amid Global Market Shifts
China's stock market rose for the fourth consecutive day, driven by gains in the defence and tech sectors. Meanwhile, Hong Kong shares dipped slightly despite recent highs. A ceasefire between Israel and Iran and increased activity from long-only and hedge funds buoyed market sentiment.
China's stock market experienced a fourth consecutive day of gains on Thursday, with significant contributions from the defence and technology sectors. In contrast, Hong Kong's market saw a slight dip following a peak earlier this week. The Shanghai Composite Index climbed by 0.1% to reach its highest point since December.
The Hang Seng Index in Hong Kong decreased by 0.5% after hitting a new high a day earlier. The CSI Defence Index in China advanced by 1.9%, aided by increases in the AI subsector and info tech sectors, which rose by 1.3% and 0.6%, respectively. However, financial sectors experienced slight declines.
Analysts at Goldman Sachs noted increased activity in China assets, with expectation for heightened retail participation. A truce between Israel and Iran has eased global market risks, yet analysts highlight that upcoming earnings reports and macroeconomic support will remain crucial factors.
(With inputs from agencies.)
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