Chinese stocks close near their highest level since 2022, buoyed by gains in construction and rare earths.
At the close, the Shanghai index was up 0,72%.
Reuters Chinese stocks closed near three-and-a-half-year highs on Monday, led by the rare earth and construction sectors, while the Hong Kong market rose as major internet companies advanced after a government crackdown on price wars.
At the close, the Shanghai index rose 0,72%, marking its highest closing level since January 2022, while the CSI300 index, which tracks the largest companies listed in Shanghai and Shenzhen, advanced 0,67%.
Leading the gains, the CSI Construction and Engineering index rose 4,3%, hitting a seven-month high, after China began construction of a $170 billion hydroelectric dam in Tibet.
The rare earth sector also helped boost the market, with a 3,2% increase following a Reuters report that Beijing had quietly issued its first rare earth mining and smelting quotas for 2025.
Hong Kong's Hang Seng index rose 0,68% after briefly surpassing the 25.000-point level for the first time since February 2022.
Meituan, JD.com, and Alibaba rose between 1,8% and 2,7% after Beijing summoned the three and asked them to defuse a heated price war.
In Tokyo, the Nikkei index remained closed.
In Hong Kong, the Hang Seng index rose 0,68% to 24.994 points.
In Shanghai, the SSEC index gained 0,72%, to 3.559 points.
The CSI300 index, which tracks the largest companies listed in Shanghai and Shenzhen, rose 0,67% to 4.085 points.
In Seoul, the KOSPI index rose 0,71% to 3.210 points.
In Taiwan, the TAIEX index fell 0,18% to 23.340 points.
In SINGAPORE, the STRAITS TIMES index rose 0,42% to 4.207 points.
In Sydney, the S&P/ASX 200 index fell 1,02% to 8.668 points.
