Published on 06/05/2025 at 03:49
(MT Newswires) -- Chinese stocks continued their upward trend on Thursday after an indicator of service activity rose for the 29th straight time in May.
The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.2% or by 7.90 points to 3,384.10. The Shenzhen Component Index increased by 0.6% or by 58.92 points to 10,203.50.
China's services sector grew faster in May as the Caixin China General Services Business Activity Index accelerated to 51.1 in May from 50.7 in April despite a decline in new export orders amid tariff threats.
Meanwhile, power rates in China's major industrial hubs also fell due to a decline in the country's coal prices and a deluge of green energy, Bloomberg News reported separately Thursday.
The lower power prices helped alleviate pressures on factories hurt by the US-China trade war, the report said.
In the corporate front, debutant Shenzhen UUGreenPower closed 69% higher during its first trading day in Shenzhen. The new energy vehicle charging equipment component manufacturer opened 67% higher at 150.01 yuan early Thursday.
Another debutant, Zhongce Rubber , closed 7% higher. The rubber tire manufacturer priced its initial public offering at 46.50 yuan apiece.

Sumber : MT Newswires