Shanghai stocks dip after 7-day rising streak, but set for best week in two months

** But Chinese equities are set for their biggest weekly gain in two months, and analysts expect the upward trend to continue, ⁠aided by a strengthening yuan. ** The Shanghai Composite Index fell 0.2% by the lunch break following a seven-day rising streak.

Shanghai stocks took a breather on Friday after rising for seven sessions in a row as profit-taking pressure ‌grew. ** But Chinese equities are set for their biggest weekly gain in two months, and analysts expect the upward trend to continue, ⁠aided by a strengthening yuan.

** The Shanghai Composite Index fell 0.2% by the lunch break following a seven-day rising streak. China's blue-chip CSI300 Index was flat. ** Private fund manager ​Rabbit Fund expects China stocks to zig-zag higher as the economy slowly recovers. ** Analysts ‍also expect the market to benefit from a strengthening yuan, which on Thursday registered its strongest official close in 2-1/2 years.

** The currency appreciation "is expected to whet foreign appetite for yuan assets, push up valuations ⁠and ‌increase interbank liquidity," Huatai Securities ⁠said. ** The brokerage expects the yuan to reach 6.82 per dollar by the end of next year, ‍which is nearly 3% stronger than the current level. ** Gold miners jumped as prices of the ​yellow metal surged to a record high in early Asian trading on Friday. ** ⁠Steelmakers rose after China on Friday said it will continue to regulate crude steel output and prohibit the addition ⁠of illegal new capacity from 2026 to 2030.

** Expectations of Beijing's broader crackdown on oversupply and disorderly competition boosted shares in the metal sector . ** But tech ⁠stocks, including chip-makers and consumer electronics firms, dropped on profit-taking after strong gains recently. ** Sichuan Swellfun ⁠Co shares slumped ‌3% after the spirit maker denied media reports of a potential acquisition by a rival company.

** The Hong Kong stock market is closed ⁠on Friday for a public holiday.