China's benchmark Shanghai Composite Index hit a 10-year high on Tuesday, and even the shares of oil companies with investments in Venezuela bounced back from recent losses, according to China Global Television Network's financial market analyst Timothy Pope.
Chinese stocks closed higher on Tuesday, with the benchmark Shanghai Composite Index up 1.5 percent to 4,083.67 points.
The Shenzhen Component Index closed 1.4 percent higher at 14,022.55 points.
"Today the Shanghai Composite Index jumped 1.5 percent, closing at 4,083.67. I mean, look we both remember the last time that Chinese stocks were this high, but it feels like an age ago -- more than 10 years, July 2015. The markets have really picked up the 2025 rally and continue to run with it. We've seen that Monday and Tuesday. There has been a bit of impact from the U.S. attack on Venezuela so far, but that's really been limited to the stocks of the Chinese oil companies with investments in Venezuela and today even those shares came back. The same themes are really remaining very popular, tech in general, AI in particular. But investors were also really grabbing up commodities stocks today in a big way. Prices jumped for both gold and copper. Gold miner Zijin [Mining Group Limited] was the biggest contributor to gains on the Shanghai Composite Index today. Financial stocks were also doing pretty well. The big insurers making some very solid gains on the Shanghai Composite [Index]. Now these companies are both helping to propel the rally and are going to be beneficiaries too, because remember these insurers have huge stock portfolios and rules have fairly recently been loosened to allow them to invest even more heavily," Pope said.
"Among retail investors there's also a bit of a sense that this is the moment to ride the wave. We've got about a month left before things traditionally start to slow down ahead of the Lunar New Year and China's Spring Festival holiday. It is perfectly possible that the couple of slow weeks preceding that holiday could be a bit truncated this year with the amount of energy that's in the markets at the moment. But I'm also sure that most people are looking forward to that break. I know I am, and they do tend to cash out in the lead-up. So, there really does seem to be a sense that investors are making hay while the sun shines," he said.
China's benchmark stock index hits 10-year high as oil stocks rebound: CGTN market analyst
Taoiseach of Ireland Micheal Martin, who wrapped up his five-day official visit to China, has praised China's progress in areas such as digital economy and green energy, saying Ireland is willing to deepen economic and trade cooperation with China in emerging sectors while enhancing cooperation on multilateral affairs.
It is Martin's first visit to China since taking office and the first by an Irish prime minister in 14 years.
Speaking during a joint interview with Chinese media outlets in Beijing, Martin spoke positively of the steady development of bilateral relations in recent years, highlighting closer people-to-people exchanges and growing ties in higher education.
"We now have a direct flight between Dublin and China and that's very important in terms of people to people. Our education links are very strong and we have many partnerships between Irish higher education institutions and Chinese higher education institutions and that's important," he said.
Martin said economic and trade ties remain a key pillar underpinning the sound development of bilateral relations.
He recalled that bilateral trade has seen exponential growth since his first visit to China 20 years ago, when he served as minister for enterprise, trade and employment.
Looking ahead, he expressed expectations for expanded cooperation with China in such emerging fields as digital economy and green transition.
"We will be embarking on a major investment in offshore renewables over the next decade. We already are in the planning process. It's a windy island, so we have a lot of wind to harness for energy. So we do see opportunities in AI as well. Ireland is a very strong location for investment, as a member of the European Union, the only English-speaking country now in the Eurozone and in the European Union. And it's a good access point to the European consumer market. We believe there's a greater opportunity for Chinese companies to locate in Ireland," he said.
As Ireland is set to assume the rotating presidency of the European Union (EU) in the second half of 2026, Martin said Ireland adopts a pragmatic policy towards China within the EU and stays committed to promoting a EU-China relationship framework that effectively manages differences while expanding mutually beneficial cooperation.
"What is important is that we continue to dialogue and see can we develop frameworks of agreement on the big picture. The WTO is also very important forum for resolving trade issues. Both Europe and China would acknowledge that industrial resilience, economic security issues are important issues, but that has to be balanced with an open free trade environment. So we are against tariffs. We think tariffs are ultimately damaging to the world economy," he said.
At the invitation of Chinese Premier Li Qiang, Martin paid an official visit to China from Jan 4 to 8. In addition to Beijing, he also visited Shanghai.
Irish Taoiseach sees broader cooperation with China in emerging sectors
