09.10.202502:41:07UTC+00China Stocks Climb After Golden Week Break

Following the reopening of mainland markets after the extended Golden Week holiday, during which a record-setting 2.43 billion cross-regional passenger trips were made, the Shanghai Composite index marked an increase of 0.6% to surpass 3,900. Concurrently, the Shenzhen Component index climbed 1.5% to reach 13,725. The mining sector spearheaded this upswing, as Beijing initiated export restrictions on rare earth production technology to consolidate its leading position in the field, amidst intensifying rivalry with the United States. Among the prominent gainers were Zijin Mining, which surged 6.9%, China Northern Rare Earth up by 5.7%, and Zhejiang Huayou Cobalt with a 2.4% increase. The technology sector also witnessed growth, mirroring global optimism surrounding AI developments, with notable performances from Giga Device Semiconductor rising 8.8%, Zhongji Innolight up 1.9%, and Foxconn Industrial increasing by 4.6%.