Shanghai shares surged to a ten-year high on Friday, driven by strong gains in semiconductor and artificial intelligence (AI) firms after Beijing reaffirmed its commitment to technological advancement and national security. The rally came as the Communist Party wrapped up a key four-day plenum, vowing to “resolutely” meet its 2025 economic goals and prioritize innovation-led growth. Investor sentiment was further lifted by optimism over a potential thaw in U.S.-China relations, with Presidents Trump and Xi set to meet in South Korea next week to discuss trade tensions. The Shanghai Composite Index climbed 0.4% by midday, touching its highest level since August 2015, while the blue-chip CSI300 rose 0.7%, heading for its best weekly performance in two months. Hong Kong’s Hang Seng Index also gained 0.6%, rounding off a volatile week on a positive note.
Why It Matters
The market’s rise underscores growing confidence in…
