China's A-shares posted modest gains on Monday, rebounding late in the session after a morning slump, as investors bought the dip in tech stocks amid a broader market correction, according to a market analyst.
The benchmark Shanghai Composite Index edged up 0.05 percent to close at 3,836.77 points, while the Shenzhen Component Index rose 0.37 percent to 12,585.08.
The ChiNext Index, which tracks China's Nasdaq-style board of growth enterprises, added 0.31 percent to finish at 2,929.04.
Timothy Pope, a market analyst for China Global Television Network (CGTN), said the late-session recovery reflected shifting sentiment, particularly in the AI sector, which helped lift the broader market.
"The Shanghai Composite Index actually touched a six-week low today, falling almost half of one percent this morning as AI stocks continued their decline. But after the lunchtime break, sentiment did seem to shift a little. Not enough to be called renewed optimism, but certainly enough to get the Composite Index to close with a fractional gain, and certainly enough to spark a rebound for the AI sector. We have the CSI AI index trading about 1.2 percent lower when trading stopped for lunch. But it ended the session more than three quarters of one percent higher as investors bought the dip on a number of recently very popular stocks. The chip designer Cambricon was the big one there. It touched a one-month low this morning. We had its losses for November so far hitting 10 percent in early trade today. But at that point investors really seemed to think it was a decent deal again, and the stock ended the session up more than one percent," said Pope.
"New energy vehicle stocks were also a significant drag on the markets in the morning, and they didn't really join in the afternoon rebound. That sector ended the day broadly lower. But by the end of session more stocks were rising in Shanghai than falling. A big part of correction that we've seen over the last week or so, as I said last week, is the absence of any fresh policy signals. But we're also seeing a bit of a technical year-end drawdown as institutional investors in particular book their profits well before the end of 2025. So we could be in for a bumpy few weeks on the Chinese mainland markets until we get more of those concrete policy announcements after the Central Economic Work Conference in December," said the analyst.
China's A-shares make late bid for gains amid broad correction: analyst
Chinese Foreign Minister Wang Yi said on Tuesday that mediation efforts of the Pakistani side regarding the Middle East tensions are in the common interests of all parties.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks in his talks with Pakistani Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar in Beijing.
During their talks, the two sides exchanged views on current international issues and regional conflicts.
Wang welcomed the visit of the Pakistani side to Beijing for discussion on easing tensions in the Middle East, just after its holding of a quadrilateral foreign ministers' meeting in Islamabad.
He said China supports and looks forward to Pakistan playing a unique and important role in easing the situation and resuming peace talks. This process is no easy task, and Pakistan's mediation efforts are in line with the common interests of all parties, Wang added.
He noted China is willing to make joint efforts with Pakistan to end the hostilities as soon as possible, create opportunities for peace and open the window for peace talks.
On bilateral ties, Wang said this year marks the 75th anniversary of the establishment of diplomatic relations between China and Pakistan, calling on both sides to implement the important consensus reached by the leaders of the two countries and constantly advance the building of a China-Pakistan community with a shared future.
For his part, Dar said the Pakistan-China friendship is precious and deeply rooted in people's hearts, adding that Pakistan is willing to work with China to promote the continuous development of the all-weather strategic cooperative partnership between the two countries.
Dar thanked China for supporting Pakistan's mediation of the situation in Iran, adding that the current conflict has disrupted international energy supplies and caused heavy damage to developing countries.
Noting that solutions can only be found through negotiation, Dar said Pakistan is willing to strengthen communication and coordination with China to push all parties to start peace talks as soon as possible and restore regional peace.
The two sides also put forward a five-point initiative for restoring peace and stability in the Gulf and the Middle East region:
I. Immediate cessation of hostilities: China and Pakistan call for immediate cessation of hostilities and utmost efforts to prevent the conflict from spreading. Humanitarian assistance must be allowed to all war-affected areas.
II. Start of peace talks as soon as possible. Sovereignty, territorial integrity, national independence and security of Iran and the Gulf states should be safeguarded. Dialogue and diplomacy is the only viable option to resolve conflicts. China and Pakistan support the relevant parties in initiating talks, with all parties committing to peaceful resolution of disputes, and refraining from the use or the threat of use of force during peace talks.
III. Security of nonmilitary targets. The principle of protecting civilians in military conflict should be observed. China and Pakistan call on parties to the conflict to immediately stop attacks on civilians and nonmilitary targets, and fully adhere to International Humanitarian Law, and stop attacking important infrastructure, including energy, desalination and power facilities, and peaceful nuclear infrastructure, such as nuclear power plants.
IV. Security of shipping lanes. The Strait of Hormuz, together with its adjacent waters, is an important global shipping route for goods and energy. China and Pakistan call on the parties to protect the security of ships and crew members stranded in the Strait of Hormuz, allow the early and safe passage of civilian and commercial ships, and restore normal passage through the Strait as soon as possible.
V. Primacy of the United Nations Charter. China and Pakistan call for efforts to practice true multilateralism, to jointly strengthen the primacy of the United Nations, and to support the conclusion of an agreement for establishing a comprehensive peace framework and realizing lasting peace based on the purposes and principles of the UN Charter and international law.
Pakistan's mediation efforts in common interests of all parties: Chinese FM
Pakistan's mediation efforts in common interests of all parties: Chinese FM
