Media365
China’s ChiNext board, a tech-focused index of the Shenzhen Stock Exchange, reached an all-time intraday high on Wednesday, passing the 4,000-point mark hours before US President Donald Trump is expected to arrive in Beijing with a coterie of tech executives.
As of Wednesday afternoon, the index had reached a peak of 4,041 in intraday trading, its highest level on record. The same day, the Shanghai Composite Index reached its strongest level since 2015.
The index tracks many of the emerging tech giants listed on the Nasdaq-style ChiNext market, including battery maker Contemporary Amperex Technology Ltd, commonly known as CATL, as well as Apple supplier Lens Technology.
Trump is expected to land in China on Wednesday, joined by Nvidia CEO Jensen Huang, Apple CEO Tim Cook and Elon Musk, CEO of Tesla and SpaceX, among other leading executives.
In a Wednesday note by Morgan Stanley, the investment bank said that the market could see “moderate upside by the second quarter of 2027” based on “improved earnings and growing dominance in global upstream supply chains”.
The authors noted the US-China summit could trigger “moderate index upside” if the one-year truce in the bilateral trade war was extended during Trump’s visit.
