Strong Policy Support Lifts China Shares; Kaishan Up 4%
Chinese shares closed higher on Thursday as investor sentiment was boosted by strong policy and institutional support.The Shanghai Composite Index, the main gauge of Chinese stocks, closed 0.3% higher to 3,876.78. The Shenzhen Component Index climbed 0.4% to 14,123.31.China's Finance Minister Lan Fo'an called for the stronger implementation of the fiscal and financial coordination package of policies to boost domestic demand, state media the People's Daily reported.China granted zero tariffs to 63 countries as part of plans to expand in the next five years. Customs' head Sun Meijun said customs will expand diversified markets between 2026 and 2030.Also, China raked in 1.1 trillion yuan of sales from its consumer goods trade-in program in the first half. The number of automobile trade-ins reached 3.7 million, while home appliance transactions were at 63.3 million and digital and smart product purchases at 79.1 million.In company news, Kaishan (SHE:300257) signed a partnership with U.S. company Halliburton Energy Services to jointly advance enhanced geothermal systems and low-carbon energy services. Shares of the compressor manufacturer closed 4% higher Thursday.
