The Shanghai Composite traded flat around 3,969, poised for its strongest annual gain since 2019, while the Shenzhen Component was muted around 13,601 and on track for its biggest yearly rise since 2020 on Wednesday, as better-than-expected PMI figures boosted market sentiment. Official data showed the composite PMI climbed to a six-month high of 50.7 in December 2025, with the manufacturing PMI (50.1 vs 49.2 in November) returning to expansion territory for the first time since March, and the non-manufacturing PMI reaching a five-month high (50.2 vs 49.5). A private survey mirrored this optimism, with manufacturing PMI unexpectedly rising to 50.1 from a four-month low of 49.9 in November. Among notable gainers, Industrial and Commercial Bank of China rose 0.4%, Contemporary Amperex Technology gained 0.3%, CNOOC added 1.1%, NAURA Technology Group advanced 1.5%, and Zijin Mining Group jumped 5%.
