The Shangai Composite Index Closes 1.04% Higher

The Shangai Composite Index rose 41 points or 1.04 percent on Friday to close at 3941 points. Leading the gains are Sanan Optoelectron (4.67%), Sh Fosun Pharma (3.73%) and Jiangsu Hengrui (3.68%).

The Shanghai Composite climbed 1.02% to close at 3,940 on Friday, while the Shenzhen Component advanced 1.42% to 14,311, with both indexes reaching their highest levels in three weeks as the latest trade data highlighted the country's resilient external sector. Although export and import growth moderated in July, both remained robust amid solid global demand for AI-related technology products. Exports jumped 23.9% year-on-year to USD 397.85 billion, while imports rose 27.5% to USD 285.35 billion. As a result, China’s trade surplus widened to USD 112.5 billion from USD 97.7 billion a year earlier, surpassing market expectations. Still, US-China trade tensions remained a concern after Beijing unveiled fresh retaliatory measures against Washington. AI-related names such as Cambricon Technologies (2.72%), SMIC (3.38%), Hygon Information Technology (1.58%), and NAURA Technology (1.28%) gained. Over the week, the Shanghai Composite climbed 2.81%, while the Shenzhen Component soared 5.39%.

The Shangai Composite Index gained 23 points or 0.58 percent on Thursday to close at 3901 points. Gains were led by China Coal (6.00%), Shaanxi Coal (4.19%) and Poly Real Estate (2.33%). Biggest losers were BAIC BluePark (-6.71%), Datang Intl (-2.95%) and Jiangsu Hengrui (-2.56%).