FX.co ★ Shanghai Stocks Close at Fresh 10-Year High

On Monday, the Shanghai Composite Index advanced by 0.53%, closing at 4,019 and marking a new ten-year peak. This gain was primarily driven by defensive stocks as investors shifted away from high-performing technology and AI sectors. Chinese equities echoed the upward movement of global markets amid renewed investor optimism, fueled by expectations that the extended shutdown of the US government might soon be resolved following the Senate's approval of an initial funding bill. Among the top performers were Guangzhou Tinci Materials, which rose by 2.9%, China Tourism Group with a significant increase of 10%, and Kweichow Moutai, up by 2%.

In corporate developments, Wingtech Technology saw a 3% rise in its stock price after Beijing granted a waiver on export controls for chips produced by Nexperia, a subsidiary of the Dutch company, for civilian applications. Meanwhile, economic data released over the weekend indicated a surprise increase of 0.2% in consumer prices for October, bouncing back from a 0.3% decline in September. Producer prices experienced a 2.1% fall, marking the mildest decrease in 14 months.