All major Chinese A-share stock indexes rose on the first trading day of the Lunar Year of the Dragon. The Shanghai Composite Index rose more than 1%, returning to the 2,900-point mark.
The artificial intelligence (AI) concept sector performed particularly well, which was mainly driven by important industry events, especially the release of the Sora model. The Federal Reserve is expected to enter an interest rate cut cycle in 2024. This will increase the investment attractiveness of RMB assets and attract foreign capital.