29.01.202602:40:23UTC+00China Stocks Struggle as Miners Weigh

On Thursday, the Shanghai Composite saw a slight downturn of 0.2%, settling at approximately 4,140, while the Shenzhen Component experienced a modest rise of 0.2%, reaching 14,370. This variance in performance across mainland stocks was marked by a decline in mining shares due to profit-taking activities and gains in technology and consumer stocks. Within the mining sector, companies such as Zijin Mining, CMOC Group, and Aluminum Corporation recorded declines of 1.4%, 3.7%, and 1.6% respectively, as investors capitalized on a previous surge driven by soaring prices in gold, silver, copper, and other metals. Conversely, leading tech and consumer companies saw significant upward movement, buoyed by optimism over AI-driven demand and anticipations of new policy initiatives aimed at enhancing consumption. Notably, stocks like BlueFocus Intelligent surged by 18%, Leo Group by 7.1%, and Kweichow Moutai by 3.1%. Additionally, Goldman Sachs has forecasted that Chinese equities may attract approximately $518 billion in new domestic capital this year, attributed to robust corporate earnings and a more favorable market sentiment.