
Chinese Stocks Close Higher Driven By Gold And e-Commerce Sectors
(220704) -- BEIJING, July 4, 2022 (Xinhua) -- A staff member walks past the Shenzhen Stock Exchange in Shenzhen, south China's Guangdong Province, Sept. 21, 2020. (Xinhua/Mao Siqian)
Chinese stocks closed higher on Monday, with the benchmark Shanghai Composite Index up 0.45 percent to 3,291.43 points.
The Shenzhen Component Index closed 1.27 percent higher at 9,905.53 points.
The combined turnover of these two indices stood at about 1.04 trillion yuan (about 144.53 billion U.S. dollars), up from 914.7 billion yuan on the previous trading day.
Shares related to the gold and e-commerce sectors were among the biggest winners, while those related to banking and Chinese liquor emerged as the biggest losers.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 1.59 percent to close at 1,944.32 points. Related
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Star
22 minutes ago
- The Star
Asian stocks climb, FX steady as US-China trade talks set to continue
Stock markets in Asia climbed on Tuesday and regional currencies were little changed against a steady U.S. dollar, as investors monitored the second day of trade negotiations between the United States and China. Representatives from Beijing and Washington met in London on Monday, just days after U.S. President Donald Trump and Chinese leader Xi Jinping held their first post-inauguration call to address an escalating trade dispute. Trump said he had received "good reports" from officials engaged in the talks, which are expected to extend into Tuesday. "The response in markets today, though, looks mixed," Maybank analysts said in a research note, adding that they would continue to monitor the situation. MSCI's broadest index of Asia Pacific shares outside Japan rose as much as 0.7% to its highest level since January 21, 2022. DBS analysts said that the second day of trade talks might see the U.S. relaxing restrictions on tech exports in exchange for China resuming rare-earths mineral shipments. The tech-heavy Taiwanese index jumped 2.1% to a two-week high, with chip giant TSMC surging 4%. South Korean equities rose 0.3% and Indonesian shares gained 1.2%. Malaysian stocks added 0.1%. Analysts at United Overseas Bank noted that the country's foreign portfolio inflows in May hit their highest level since March 2016 as signs of tariff de-escalation improved risk appetite. Regional currencies were largely unchanged. The absence of concrete outcomes from Monday's discussions between the world's two largest economies kept currency markets subdued, with traders hesitant to take on big positions. The Malaysian ringgit, Singapore dollar each inched 0.1% lower, while the Taiwanese dollar and Thai baht edged 0.1% higher. The South Korean won fell 0.5%. The U.S. dollar index was up 0.2% as investors awaited U.S. inflation data which is due on Wednesday. The inflation report is among the final key data points ahead of the U.S. Federal Reserve's June 17-18 meeting, where it is widely expected to keep rates unchanged. HIGHLIGHTS: ** Taiwan May exports hit record on AI demand and ahead of U.S. tariffs ** Investors eye Latin America as they diversify away from Wall Street ** India May inflation likely cooled to 3% as food price pressure eases - Reuters


The Star
23 minutes ago
- The Star
Cambodia approves investment projects worth US$4.2bil in January-May period
PHNOM PENH: Cambodia attracted fixed-asset investment of US$4.2 billion in the first five months of 2025, up 52 per cent compared to the same period last year, said a Council for the Development of Cambodia (CDC)'s report released on Tuesday (June 10). The country approved 290 investment projects during the January-May period this year, up 89 per cent from 153 projects in the same period last year, generating roughly 203,000 jobs, the CDC said. China remained the top foreign investor in the kingdom, accounting for 62.27 per cent of the total investment amount, the CDC said. Cambodian Ministry of Commerce's Secretary of State and spokesperson Penn Sovicheat (pic) said the Regional Comprehensive Economic Partnership (RCEP) agreement and Cambodia's bilateral free trade agreements with China, South Korea, and the United Arab Emirates are major factors in attracting foreign direct investment. "These free trade pacts are magnets for foreign investors to Cambodia," he told Xinhua. Sovicheat said new investments would bring new capital, technologies and job opportunities for Cambodian people. - Xinhua


New Straits Times
39 minutes ago
- New Straits Times
Sarawak signs MoU with Chinese firms to explore floating solar at Bakun dam
SHANGHAI: The Sarawak government has formalised a memorandum of understanding (MoU) with two Chinese companies to jointly undertake various studies and collaborate to explore the potential development of floating solar - with a capacity not exceeding 1,000MW - on the reservoir of the Bakun dam. The MoU was formalised between the Sarawak Utility and Telecommunication Ministry, China Three Gorges International Ltd, and Shanghai Electric Power T&D Group Co Ltd at the 2025 International Solar Photovoltaic and Smart Energy Conference (SNEC PV) in Shanghai today. The signatories of the MoU were Sarawak's Permanent Secretary for the Utility and Telecommunication Ministry Datuk Jafri Lias, vice-president of China Three Gorges International Ltd Zhang Kai Hong, and Vice President of Shanghai Electric Power T&D Group Co Ltd Yang Xing Hai. Premier Tan Sri Abang Johari Openg, in his speech at the signing ceremony, said Sarawak was pleased to forge this strategic alliance with strong industry partners like CTGI and Shanghai Electric. In a speech read by Deputy Utility and Telecommunication Minister Datuk Ibrahim Baki, Abang Johari said the strategic alliance would support the state government's aim of ensuring energy security and environmental sustainability. "Sarawak currently has a generation capacity of about 5,900MW, predominantly from renewable hydropower sources. "Sarawak targets a 10GW generation capacity by 2030, and 15GW by 2035, with renewable sources making up over 60 per cent of the capacity mix. "With its vast renewable energy resources, Sarawak has the potential to become a renewable energy powerhouse in the region," Abang Johari said. He said Sarawak's progressive renewable energy policies are accelerating the state's energy transition. He said recent amendments to the Electricity Ordinance in 2023 further underscore Sarawak's commitment to decarbonisation, with enabling provisions for large-scale solar development, consumer-generated electricity, and independent power producer participation. The premier said Sarawak's growing focus on solar energy reflects the state's approach, which includes solar-hybrid rural electrification, hydrogen-integrated solar systems, and the Net Energy Metering (NEM) scheme to support solar adoption in housing developments. He said Sarawak successfully generated power from its first large-scale solar installation at the Batang Ai Dam in December 2024. He said the 50MW floating solar farm, spanning over 190ha of the Batang Ai reservoir, also marks Sarawak's first integrated hydroelectric and solar power scheme. He said this initiative would pave the way for further development of floating solar projects in Sarawak at other hydropower reservoirs through privately funded investments. The MoU signing was held in conjunction with the SNEC PV+ 18th International Photovoltaic Power Generation and Smart Energy Conference & Exhibition, which is being held from June 10 to 13, 2025, at the National Exhibition and Convention Centre in Shanghai, China. The event is known as the world's largest and most influential PV trade show, attracting more than 3,000 exhibitors from 95 countries.