China Stocks Hold at 10-Year High

The Shanghai Composite and Shenzhen Component were little changed on Thursday, with the former holding at decade highs as investors awaited fresh catalysts to extend the rally. Mainland shares have surged in recent weeks as funds rotated into equities and margin buying climbed to levels last seen during the 2015 bull market. Sentiment has also been supported by easing US-China trade tensions and Beijing’s efforts to curb excessive competition. Notably, the rally has persisted despite weak economic data and only modest policy support. Among movers, ZTE Corp jumped 6.3%, IEIT Systems rose 1.5%, Shenzhen Forms surged 11.4%, Gigadevice Semiconductor gained 6.8%, and Cambricon Technologies advanced 2.7%. On the downside, Foxconn Industrial slid 4.9%, Wolong Electric dropped 6.6%, and Zhongji Innolight fell 3.7%.