The Shanghai Composite jumped 0.73% to close at 4,030 while the Shenzhen Component gained 1.78% to 13,477 on Thursday, with the former hitting fresh ten-year highs amid a rally in new energy shares. Those moves came as China’s Ministry of Industry and Information Technology announced plans to unveil a comprehensive strategy to boost the new energy battery industry and enhance related infrastructure. Leading advancers included Contemporary Amperex (+7.6%), Sungrow Power (+1.5%), Do-Fluoride New Materials (+10%), TBEA Co (+2.2%), and EVE Energy (+9.2%). Meanwhile, investors awaited key Chinese economic data, with October credit figures due later today and reports on retail sales, industrial production, and fixed asset investment scheduled for release on Friday.
