Home / Business and Economy / Mainland Stocks Climb as Tech Sector Gains After Trade Truce
Mainland Stocks Climb as Tech Sector Gains After Trade Truce
3 Nov
Summary
- Mainland stocks close higher as investors position defensively
- Hong Kong's Hang Seng Index rises 0.97% to 26,158
- China cuts gold tax exemptions, impacting jewelry retailers
On November 4th, 2025, mainland Chinese stocks closed higher as investors continued to position themselves defensively while booking gains in the tech sector. This came after President Xi Jinping and his U.S. counterpart, Donald Trump, agreed to a trade deal truce the previous week.
In Hong Kong, the benchmark Hang Seng Index ended the day up 251 points, or 0.97%, at 26,158. The Hang Seng China Enterprises Index rose 0.98% to 9,258, while the Hang Seng Tech Index edged up 0.24% to 5,922.
However, the gold jewelry sector saw significant losses, with Laopu Gold tumbling 7.2% after China cut gold tax exemptions for some retailers, which may curb buying.
On the mainland, the Shanghai Composite Index gained 0.55% to 3,976, and the Shenzhen Component Index closed 0.19% higher at 13,404. The combined turnover of these two indexes was 2.11 trillion yuan, down from 2.32 trillion yuan on the previous Friday.
Shares related to the media, entertainment, shipbuilding, and coal sectors led the gains, while those in non-ferrous metals, chemical fibers, and environmental protection industries saw major losses. The ChiNext Index, which tracks China's Nasdaq-style board of growth enterprises, gained 0.29% to close at 3,196.
The tech-related shares, however, tumbled, with the semiconductor sector slumping as much as 4.2% and the tech-focused Star50 Index down 1%. The rare earth sector also slipped by as much as 3.4%.
