Chinese shares continued their rise on Monday, with the Shanghai Composite Index closing 0.85 percent up at 3,728.03 points, after hitting an intra-day high of 3,745.94 points, its highest level in almost a decade.
The Shenzhen Component Index closed 1.73 percent higher at 11,835.57 points, while the ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 2.84 percent to close at 2,606.20 points.
Market analyst Timothy Pope highlighted the trends behind the numbers in his recap of Monday's stock market performance.
"The last time the market was this high was a decade ago. Today, the Shanghai Composite Index closed at 3,728 points, up 0.9 percent. Around lunchtime, it was even higher, touching 3,740. As you said, we've seen market capitalization top 100 trillion yuan (about 13.93 trillion U.S. dollars) for the first time, and that's just an astonishing number. We're in a solid bull run -- the market is up about 23 percent from its low point in April. The easing of trade tensions has played a big role in boosting the market to this level, with another 90-day extension last week given out for more talks between China and the U.S.," he said.
"This was evident today, in fact, this trade factor, as the biggest gainers were Chinese rare earth stocks. And they have been more tariff-sensitive than other sectors. A sub-index tracking that sector was up 5.3 percent today. AI stocks have also been a huge part of this runaway rally that the market has been on since April. There's so much hype around these stocks in China since the launch of DeepSeek, and the rush by almost every sector subsequently to integrate AI into its business. Today, the sub-index tracking AI was up close to 5 percent," he added.
Analyst recaps Chinese stock market performance on Monday
