Shanghai Composite Index Reaches New Decade High

According to PANews, the Shanghai Composite Index rose by 0.77% in the afternoon session on August 22, surpassing the 3,800-point mark and achieving its highest level in nearly a decade. The index has increased by nearly 450 points this year, marking a growth of over 13%. Leading the gains were sectors such as AI chips, minor metals, education, computing power, rare earth magnets, and PCBs. Conversely, sectors like fertilizers, textiles and apparel, mining, banking, and agriculture experienced a pullback. Approximately 2,100 stocks advanced, while 3,100 stocks declined, with a net inflow of main funds amounting to about 1.2 billion yuan.