China Shares Rise on Broad-Based Recovery; JoulWatt Technology Jumps 7%
Chinese shares advanced on Tuesday amid a modest acceleration in overall business activity.The Shanghai Composite Index, the main gauge of Chinese stocks, went up 0.5% to 4,0940.40. The Shenzhen Component Index jumped 2.5% to 16,205.56.Overall business production and operational activities in China expanded in June, with the official Composite PMI Output Index rising to 50.6 from 50.5 in May, driven by synchronized momentum between the manufacturing and non-manufacturing sectors.Factory activity recovered, with the official manufacturing Purchasing Managers' Index coming in at 50.3 from a neutral print recorded the previous month. The non-manufacturing business activity index came in at 50.2, the joint-highest since December 2025, compared with 50.1 in the previous month.In company news, JoulWatt Technology (SHA:688141) investee fund Huai'an Houwang will inject 40 million yuan for a 7.69% stake in the company's automotive-grade chip packaging and testing subsidiary. The semiconductor company also proposed to pledge its 61.32% stake in its subsidiary, Zhejiang Yucan Technology, for a 120 million yuan loan it will apply for. Shares of JoulWatt Technology closed 7% higher Tuesday.
