China Shares Jump on Industrial Profit Rebound, Positive Holiday Outlook

Chinese stocks rose on Monday, with the Shanghai Composite Index up 0.9% and the Shenzhen Component Index up 2.1%, driven by a rebound in industrial profits and positive consumer spending forecasts for the upcoming holidays. Industrial profits increased 0.9% year-on-year to 4.693 trillion yuan from January to August. Notable corporate gains included Jiangsu Boqian New Materials, which surged 10% after securing a significant nickel powder order, and Guosheng Financial, also up 10% due to plans to sell shares in Qudian. Allgens Medical Technology rose nearly 4% after regulatory approval for a new product.