Chinese stock markets continue to rally as trading turnover hits record high: analyst

China's major stock indices continued a strong rally on Monday, pushing the trading turnover at the country's A-share market to a record high, said Timothy Pope, a market analyst for China Global Television Network (CGTN).

Chinese stocks closed higher on Monday, with the total trading turnover at the A-share market reaching over 3.6 trillion yuan (about 520 billion U.S. dollars).

The benchmark Shanghai Composite Index was up 1.09 percent to 4,165.29 points. The Shenzhen Component Index closed 1.75 percent higher at 14,366.91 points.

"The rally continued pretty strongly today. The Shanghai Composite Index added more than one percent in pretty brisk trade, hitting, as you said, another decade high. Since the start of the year, we've seen trading volumes go up and up as more and more investors pile in to get a slice of the action. Today's volume on the Shanghai Composite Index was not quite double what we saw on December 31, but it wasn't too far off either. The Shenzhen markets aren't being left out either. The Component Index there added 1.75 percent today. Investors were also digesting the strongest onshore Renminbi level since the middle of 2023 today. Seasonal demand for the yuan is always high ahead of the Chinese New Year, which is when hopefully all of us get our bonuses," said Pope.

AI remained the hottest sector in the trading session, said Pope.

"AI stocks continue to be hot property, but today we actually saw some pretty active other areas as well. Rare earths were up after a U.S. official said that Treasury Secretary Scott Bessent will be urging the G7 to shift away from their reliance on China for rare earths and critical minerals. But China really dominates that sector, and so this is going to be an uphill battle for them and it's not going to happen quickly, and the markets really seem to know that. China Northern Rare Earth Group added more than six percent today, and Tianqi Lithium rose 4.5 percent. And we saw satellite makers flying high as well after we saw the Chinese firms have plans to launch more than 200,000 communications satellites this year. And the bulk of these are just coming from two networks that are going to be launched and set up by a new research institute based out of China's Hebei Province. Investors found this huge jump in satellite deployment plans pretty exciting. We saw shares in companies like China Spacesat hitting their daily limits today," said Pope.

Chinese stock markets continue to rally as trading turnover hits record high: analyst

Chinese Foreign Minister Wang Yi said on Thursday that there are no winners in the prolonged wars, and a ceasefire and an end to the hostilities are the will of the people.

Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks in a phone conversation with British Foreign Secretary Yvette Cooper.

The two sides mainly exchanged views on the situation in the Middle East.

Cooper expounded on Britain's view on the current situation in the Middle East, stating that in the face of an increasingly turbulent world, the British side hopes to maintain close communication with China, push for an early end to the war, resume diplomatic negotiations, and seek long-term solutions.

Wang elaborated on China's position, saying that the current conflict in the Middle East is escalating, and the war is expanding, which not only impacts regional peace and stability, but also directly affects international energy, finance, trade and shipping, undermining the common interests of all countries.

China urges all parties to immediately cease military operations, resolve differences through equal dialogue, and jointly safeguard regional peace and stability, Wang said.

As permanent members of the UN Security Council, China and Britain shoulder the responsibility of upholding international peace and security, he noted.

Both sides should enhance communication, remain committed to actions conducive to peace, and jointly uphold the purposes and principles of the UN Charter and the basic norms governing international relations, so as to prevent the international order from being further undermined and the foundations of world peace from being eroded, said the foreign minister.

The two sides also exchanged views on China-Britain relations and agreed that they should actively implement the consensus reached by the leaders of the two countries, enhance exchanges, and continuously promote the long-term and consistent comprehensive strategic partnership between China and Britain, thereby providing stability and certainty for a world fraught with changes and turmoil.

Chinese FM says prolonged wars have no winners