Higher Open Called For China Stock Market

(RTTNews) - The China stock market on Thursday snapped the two-day losing streak in which it had stumbled more than 80 points or 2.1 percent. The Shanghai Composite Index now sits just above the 3,840-point plateau and it's expected to see additional support on Friday.

The global forecast for the Asian markets suggests little movement ahead of key U.S. inflation data later today. The European markets were mixed and flat and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.

The SCI finished sharply higher on Thursday following gains from the oil and property stocks, while the financial shares were soft.

For the day, the index jumped 43.25 points or 1.14 percent to finish at 3,843.60 after trading between 3,761.42 and 3,845.09. The Shenzhen Composite Index rallied 37.04 points or 1.55 percent to end at 2,431.32.

Among the actives, Industrial and Commercial Bank of China and Bank of Communications both lost 0.40 percent, while Bank of China slipped 0.36 percent, Agricultural Bank of China retreated 1.27 percent, China Merchants Bank was down 0.05 percent, China Life Insurance shed 0.46 percent, Jiangxi Copper dipped 0.04 percent, Aluminum Corp of China (Chalco) skidded 1.00 percent, Yankuang Energy was up 0.23 percent, PetroChina perked 0.12 percent, China Petroleum and Chemical (Sinopec) rose 0.35 percent, Huaneng Power eased 0.14 percent, China Shenhua Energy sank 0.86 percent, Gemdale strengthened 1.49 percent, Poly Developments fell 0.25 percent and China Vanke added 0.45 percent.

The lead from Wall Street suggests mild upside as the major averages opened mixed on Thursday but tracked steadily higher as the day progressed, ending near session highs.

The Dow gained 71.67 points or 0.16 percent to finish at 45,636.90, while the NASDAQ climbed 115.02 points or 0.53 percent to end at 21,705.16 and the S&P 500 rose 20.46 points or 0.32 percent to close at 6,501.86.

The strength that emerged on Wall Street came as traders digested highly anticipated earnings news from Nvidia (NVDA), with the AI darling and market leader reporting reported second quarter results that largely exceeded expectations but data center sales that came in below estimates.

Investors were also looking ahead to the release of the Commerce Department's report later today on personal income and spending in July, which includes the Federal Reserve's preferred readings on consumer price inflation.

In economic news, the Commerce Department said the U.S. economy grew more than estimated in the second quarter of 2025. Also, the Labor Department noted a modest decrease by first-time claims for U.S. unemployment benefits last week.

Crude oil prices moved higher on Thursday following a drop in U.S. crude inventories a day earlier. West Texas Intermediate crude for October delivery was up $0.42 or 0.65 percent at $64.57 per barrel.