China stocks rise to 10-year high as chip, gold shares surge post-holiday

Oct 9, 2025, 11:22 GMT+7
Reuters - China stocks climbed to their highest levels in more than 10 years on Thursday, buoyed by strong gains in semiconductor, gold, and AI-related shares as investors returned from the Golden Week holiday.
** China's blue-chip CSI300 Indexrose 1.7% by the lunch break, while the Shanghai Composite Indexgained 1.2% to 3,931 points, up above the 3,900 mark for the first time since August 2015. Hong Kong benchmark Hang Sengwas roughly flat.
** Shares of Chinese gold miners jumped, tracking a surge in bullion pricesthat hit a record high above $4,000 per ounce on Wednesday.
** Onshore non-ferrous metal shares (.CSISNMIM) surged 7%.
** The tech-focused 50index gained more than 5% amid renewed enthusiasm for artificial intelligence.
** China's chipmakers rose as U.S. lawmakers push for broader bans on chipmaking equipment sales to China. The CSI All shares semiconductor shareswere up 5.6%.
** Despite a reported 11.5% year-on-year increase in holiday travel, consumer stapleand liquorshares fell nearly 1% and 2%, respectively.
** UBS analysts said in a note that holiday spending appeared underwhelming, pointing to limited data disclosures that selectively emphasized pockets of growth, while underlying weakness was evident in declining movie box office revenues and liquor shipments.
** Shares of Hang Seng Banksoared as much as 41.2% to HK$168, their highest level since February 2022, as key shareholder HSBC proposes to take the bank private. HSBC shares listed in Hong Kongfell 6.2%.
** The CSI Rare Earth Indexjumped nearly 5%, after China tightened its rare earth export controls on Thursday, expanding restrictions on processing technology and unauthorised overseas cooperation.
** Meanwhile, investors are awaiting signals from the Communist Party's leadership meeting on October 20-23, and a possible Xi-Trump meeting at the APEC summit later this month.

Sumber : Reuters