China Stocks Soar on AI and Aerospace Surge

China's stock market reached a decade-high as AI and commercial aerospace shares led gains, with turnover setting a record. The blue-chip CSI300 and Shanghai Composite Index both rose, driven by AI optimism and recent IPOs. Hong Kong's Hang Seng also advanced, while China's aerospace stocks soared.

China's stock market reached a notable high on Monday, as artificial intelligence and commercial aerospace shares propelled gains. Investor optimism fueled a strong start to the year's onshore markets, culminating in a record 3.6 trillion yuan turnover.

The blue-chip CSI300 Index climbed 0.7%, while the Shanghai Composite Index ascended by 1.1%, marking its peak since July 2015 after last week's remarkable 3.8% surge. Hong Kong's Hang Seng gained 1.4%, reflecting widespread bullish sentiment.

HSBC analysts highlighted confidence in AI, influenced by positive regulatory environments and sector fundraisings. Meanwhile, aerospace stocks saw significant advances, partly attributed to recent strategic satellite filings by China, underscoring future industry growth prospects.

(With inputs from agencies.)