China Bourse May Reclaim 3,900-Point Level

(RTTNews) - The China stock market moved back to the upside again on Monday, one session after ending the two-day winning streak in which it had climbed more than 50 points or 1.2 percent. The Shanghai Composite Index now sits above the 3,860-point plateau and it's expected to open to the upside again on Tuesday.

The global forecast for the Asian markets is upbeat on strength from the technology stocks and on hopes for easing tariffs. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The SCI finished modestly higher on Monday following gains from the oil and insurance companies, weakness from the resource stocks and a mixed picture from the financials and properties.

For the day, the index added 24.14 points or 0.63 percent to finish at 3,863.89 after trading between 3,850.37 and 3,877.72. The Shenzhen Composite Index gained 23.51 points or 0.98 percent to end at 2,420.44.

Among the actives, Industrial and Commercial Bank of China eased 0.13 percent, while Bank of China collected 0.37 percent, Agricultural Bank of China jumped 1.71 percent, China Merchants Bank shed 0.41 percent, Bank of Communications dipped 0.14 percent, China Life Insurance surged 4.14 percent, Jiangxi Copper fell 0.29 percent, Aluminum Corp of China (Chalco) skidded 1.18 percent, Yankuang Energy soared 3.06 percent, PetroChina rallied 2.50 percent, China Petroleum and Chemical (Sinopec) climbed 1.11 percent, Huaneng Power perked 0.13 percent, China Shenhua Energy improved 0.79 percent, Poly Developments lost 0.52 percent, China Vanke added 0.32 percent and Gemdale was unchanged.

The lead from Wall Street is strong as the major averages opened higher on Monday and remained in the green throughout the trading day, ending near session highs.

The Dow surged 515.97 points or 1.12 percent to finish at 46,706.58, while the NASDAQ jumped 310.57 points or 1.37 percent to end at 22,990.54 and the S&P 500 rallied 71.12 points or 1.07 percent to close at 6.735.13.

The rally on Wall Street came after reports said the Trump administration is quietly watering down some of the tariffs that underpin the president's signature economic policy.

Apple (AAPL) also led the markets higher, with the tech giant surging 3.9 percent to a new record closing high. The jump by Apple came after Loop Capital upgraded its rating on the company's stock to Buy from Hold due to strong demand for the iPhone 17 series.

Positive sentiment was also generated in reaction to comments from National Economic Council Director Kevin Hassett, who said the ongoing government shutdown could end this week.

Crude oil edged lower on Monday as traders assess recent IEA reports of an oil market surplus in 2026. West Texas Intermediate crude for November delivery was down $0.10 or 0.17 percent at $57.44 per barrel.