09.02.202602:23:37UTC+00China Stocks Rise as Tech, Miners Rebound

The Shanghai Composite climbed by 1% to surpass the 4,100 mark, while the Shenzhen Component advanced by 1.8% to reach 14,160 on Monday. This uptick signifies a recovery from the losses experienced last week, as buyers took advantage of the dip, predominantly in technology and mining sectors which spearheaded the rebound. Technology stocks had previously faced downward pressure due to concerns regarding substantial AI investments and potential disruptions to conventional software markets. Leading Monday's gains in the tech sector were Suzhou TFC Optical with a 15% rise, Eoptolink Technology at 5.5%, Zhongji Innolight up by 3.3%, Cambricon Technologies increasing by 5.2%, and Wangsu Science at a 4.6% gain. Additionally, companies in the resource sector saw advancements as precious metals prices rebounded, with Zijin Mining up by 2.6%, China Northern Rare Earth rising by 4.1%, and Hunan Silver advancing by 6.5%. In a significant corporate development, Montage Technology witnessed shares surge over 50% in its Hong Kong market debut following a successful share sale that garnered $902 million.