FX.co ★ China Stocks Mixed Amid Profit-Taking

The Shanghai Composite Index experienced a modest increase of 0.1%, reaching approximately 4,170, while the Shenzhen Component Index saw a decline of 0.6% to settle at 14,285 on Tuesday. This performance highlights a lack of clear direction among mainland stocks as investors opted to take profits from the previously booming commercial space and defense sectors. Earlier gains had been driven by China's initiative to secure frequency and orbital resources for over 203,000 satellites across 14 constellations. However, profit-taking led to notable drops in several stocks, including China Spacesat, which fell by 1%, China Aerospace, which declined by 8.7%, and Addsino Co, down by 10%. Conversely, shares linked to artificial intelligence continued to gain traction, with BlueFocus Intelligent rising by 1%, Shanghai Stonehill by 6.2%, and Zhongji Innolight by 1.2%. Additionally, a debt advisory firm has urged holders of China Vanke Co.'s dollar bonds to consider initiating a default on the troubled developer’s notes.