Shanghai, Jan 6, 2026, 17:52 GMT+8 — Market closed
- Shanghai Composite ended up 1.5% at 4,083.67; CSI 300 rose about 1.5% to 4,790.69, both at multi-year highs.
- Metals and financials led, with copper at record highs and insurers and brokers climbing into the holiday run-up.
- Traders now turn to China inflation data due Friday and the U.S. jobs report for the next risk test.
China’s stock market closed at its highest levels in more than a decade on Tuesday, with the Shanghai Composite up 1.5% at 4,083.67 and blue-chip CSI 300 adding about 1.5% to 4,790.69. The Shanghai gauge touched its strongest since July 2015.
The move matters because the mainland rally is pulling leadership back toward cyclical sectors — miners, insurers and brokers — rather than a narrow tech bid, suggesting broader risk appetite into early 2026. Turnover and leverage have also picked up, a combination that can amplify both gains and reversals.
“Sentiment has been improving as a few things have come together at once,” said Billy Leung, an investment strategist at Global X Management, pointing to clearer policy signals and light positioning into year-end. UBS analysts also flagged a “tactical upside window” before trading typically thins into the Lunar New Year lull. The Edge Malaysia+1
Onshore, non-ferrous metals and materials sectors rose 4.1% and 4.6%, respectively, as copper prices hit record highs, lifting miners such as Zijin Mining, which jumped 6.2%. Reuters has linked the latest copper surge to tightening supply concerns, including disruption risks after a strike at a Chilean mine.
Financials joined the run. Insurance shares jumped, with New China Life Insurance up 6.5% on expectations for stronger early-year product sales, while securities firms gained more than 4%, according to the Reuters account of the session.
Tech stayed firm but was not the only driver. Hong Kong’s Hang Seng ended higher, with major tech names extending gains for a third session and Baidu touching its highest level since August 2023, the Reuters report said.
Mainland trading activity has been heavy. The onshore market’s turnover hit 2.5 trillion yuan on Monday — the biggest since mid-October — and margin financing (borrowed money used to buy shares) has hovered around record highs, The Edge reported.
But the rally is starting to look stretched on some measures. The 14-day relative strength index (RSI) — a momentum gauge traders use to flag “overbought” conditions — rose above 74 for the Shanghai Composite, The Edge said, a level that can precede profit-taking if fresh catalysts disappoint. The Edge Malaysia
Next up, investors will be watching China’s December CPI and PPI releases due Friday, Jan. 9, on the National Bureau of Statistics calendar, alongside global cues from Friday’s U.S. employment report cited by Reuters as a key driver for rates expectations and risk assets.
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