Tech stocks stood out in among the rising Chinese shares on Monday, China Global Television Network (CGTN) analyst Timothy Pope said.
Chinese stocks closed higher on Monday, with the benchmark Shanghai Composite Index up 1.41 percent to 3,982.65 points.
The Shenzhen Component Index closed 2.44 percent higher at 14,704.27 points. Meanwhile, the ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 3.14 percent to close at 3,740.16 points.
Tech was the big story all day, and the rebound for semiconductor shares only grew more pronounced as the session went on.
"Tech was, as I said, far and away the best performing sector. There was a sub-index tracking semiconductors rising 5 percent. Memory chip makers also did really well - CXMT added 12 percent. There are more and more predictions of increasingly tight memory chip supplies even going through 2027, and we heard SK Hynix warning that next year could see the worst memory-chip shortage the industry has ever experienced," said Pope.
He also highlighted several important events that could impact this week's stock market.
"Ahead this week we've got China's monthly decision on benchmark lending rates, the LPR. Also this week, the World Robot Conference in Beijing, which I'm sure will have plenty to showcase in embodied AI to get investors excited, and Zhongji Innolight results right at the end of the week will give us insights to profits and valuations in AI infrastructure and its supply chain," Pope noted.
Tech stocks lead Chinese shares’ Monday growth: analyst
Chinese Premier Li Qiang urged solid efforts to accomplish the objectives and tasks for this year's economic and social development to make a good start in implementing the 15th Five-Year Plan while presiding over a plenary meeting of the State Council in Beijing on Monday.
Li said that since the beginning of this year, China's economy has registered steady growth featuring new momentums and structural improvement.
In the face of problems such as insufficient domestic demand and growing difficulties in some industries and enterprises, Li called for a focus on development goals to continuously push for innovation-driven and high-quality economic development by leveraging existing policies and rolling out new practical and effective policies in a timely manner.
Noting that this year marks the first year of the 15th Five-Year Plan period (2026–2030), Li emphasized the need to give full play to the plan's guiding role in all areas, urging efforts to maintain steady economic operation and expand domestic demand.
Efforts should be strengthened to advance the construction of water networks, new-type power grids, computing power networks, next-generation communication networks, urban underground pipeline networks and logistics networks, and innovate investment and financing mechanisms to attract social capital, Li said.
Li called for efforts to stabilize external demand and expand the space for mutually beneficial international cooperation in trade and economy.
It is imperative to leverage science and technology to accelerate transition from old to new growth drivers, increase support for emerging pillar industries and future industries, continuously promote the upgrading of traditional industries, and consolidate the foundation for the real economy, Li said.
Li also stressed doing a good job in ensuring and improving people's livelihood, boosting employment, increasing people's incomes, improving public services, carrying out disaster relief, and preventing the resurgence of poverty.
Chinese premier urges efforts to accomplish economic objectives, tasks
