The Shanghai Composite rose 0.2% to above 3,640, while the Shenzhen Component climbed 1% to 11,240 on Monday, extending last week’s gains as investors awaited an announcement on whether the US-China tariff truce will be extended ahead of the August 12 deadline. Reports indicated that China wants the US to ease export controls on chips for artificial intelligence as part of a trade deal ahead of a possible summit between Presidents Donald Trump and Xi Jinping. On the economic front, weekend data showed that consumer prices in China were unchanged in July from the previous month, beating forecasts for a 0.1% decline. However, producer deflation persisted for the 34th consecutive month. Technology stocks led the rally, with notable gains from Anhui Greatwall (7.8%), Eoptolink Technology (4.8%), and Luxshare Precision (3.9%).
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