The Shanghai Composite rose 0.22% to 3,829, while the Shenzhen Component gained 0.67% to 13,158 on Monday, as mainland stocks ended a two-day decline amid signs of progress in US-China talks.
US President Donald Trump said he and Chinese President Xi Jinping made headway on a TikTok agreement and plan to meet face-to-face in six weeks in South Korea to discuss trade, illicit drugs, and Russia’s war in Ukraine.
On the monetary policy front, the People’s Bank of China kept its one- and five-year loan prime rates unchanged at 3% and 3.5% for the fourth straight month, despite a recent US Federal Reserve rate cut.
Authorities have so far avoided major stimulus measures, even as economic indicators point to slowing momentum.
Technology stocks led gains, with Hygon Information Technology up 10.6%, Cambricon Technologies rising 3.4%, Foxconn Industrial climbing 6.6%, and Dawning Information Technology jumping 10%.
