China's major stock indices rebounded on Monday amid growing bullish sentiment in both U.S. and Asian markets, reported Wang Yin, a market analyst for China Global Television Network (CGTN).
Chinese stocks closed higher on Monday, with the benchmark Shanghai Composite Index up 1.41 percent to 4,123.09 points.
The Shenzhen Component Index closed 2.17 percent higher at 14,208.44 points.
"Mainland stocks rebounded in today's trading session, inspired by record-breaking performance on Wall Street and bullish market sentiment in Asia. The Shanghai Composite Index rose 1.41 percent above 4,100 points, while the Shenzhen Component Index added 2.17 percent today, recovering last week's losses as dip buyers stepped in, with tech and mining shares leading the gains. Last week, we saw that tech shares had come under pressure amid concerns over heavy AI spending and potential disruption to traditional software business models. The benchmark CSI 300 index today rose 1.63 percent, ahead of inflation figures due on Wednesday, set for its best day in a month, and the small-cap ChiNext board jumped nearly three percent at the close," said Wang.
"Tech stocks were on firmer ground, recovering from sell-offs last week. Top tech gainers across the board included Suzhou TFC Optical, Zhongji Innolight, Cambricon Technologies and Wangsu Science. Companies linked to resource increased as precious metals rebounded, with Zijin Mining adding 3.87 percent, China Northern Rare Earth up 5.55 percent and Hunan Silver rising 9.97 percent. Meanwhile, Chinese film producers, media and entertainment shares led gains as investors bet holiday spending will boost their revenue," she said.
Chinese stocks rebound on Monday amid bullish sentiment in US, Asian markets
