The Shanghai Composite rose 0.1% to around 3,880, while the Shenzhen Component gained 0.3% to 12,910 on Friday, with both indexes set to finish the week higher. The boost came after JPMorgan Chase & Co. upgraded its recommendation on China’s stocks to ‘overweight,’ citing potential upside that outweighs downside risks next year. The bank highlighted factors including AI adoption, consumption-boosting measures and governance reforms. Notable gains were seen in heavyweight names such as BlueFocus Intelligent (2.8%), Shenzhen Everwin (10%), Sungrow Power (1.2%), Do-Flouride New Materials (3.2%) and Shannon Semiconductor (2%). Meanwhile, China Vanke fell another 3% after announcing plans to delay an onshore bond repayment for the first time. Despite the weekly gains, the Shanghai and Shenzhen indexes are still set to lose 2% and 3.4% respectively for the month, following a tech-led selloff through most of November.
