China stocks rose on Thursday, with the Shanghai Composite up 1.4% to around 3,260 and the Shenzhen Component up 0.6% to 10,290, recouping losses from earlier in the week as Beijing stepped up support for the struggling stock market. On Wednesday, China unveiled a new plan led by its top financial regulator, urging state-owned insurers to increase their investments in Chinese A-shares and equity funds, while also encouraging mutual funds to raise capital for stock investments. Wu Qing, head of the CSRC, said the plan would inject hundreds of billions of yuan in new capital each year. Earlier this week, Chinese stocks faced pressure following comments by U.S. President Donald Trump about potential 10% tariffs on Chinese imports, which could come into effect as early as Feb. 1. Notable gainers included East Money (+3%), Hithink Royalflush (+4.7%), Foxconn Industrial (+2.1%), Shenzhen Woer (+3.9%), and Shanghai Electric Group (+10%).(AL)
Source: Trading Economics
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