Chinese Markets Surge Amid New Energy Gains

China's stock markets climbed on Thursday, driven by the new energy sector. Key indices like the Shanghai Composite and CSI300 showed gains, while the new energy vehicle sector experienced significant surges. Investors are eagerly awaiting key economic data releases which could influence future market movements.

China's stock markets experienced a positive shift on Thursday, with the new energy sector leading the charge. The Shanghai Composite index increased by 0.7%, reaching its highest point since 2015, while the blue-chip CSI300 index rose by 1.2%.

Leading the charge, the CSI New Energy Vehicle Index surged by 6.2%, marking a three-year high, while the New Energy Index rallied by 4.7% in its largest single-day gain in two weeks. Battery manufacturer CATL saw an impressive 7.6% increase, nearing a record high, and miner Tianqi Lithium jumped by 10%.

As investors await significant economic data on Friday, China's Ministry of Industry and Information Technology plans to enhance the new energy battery sector, focusing on infrastructure development. Additionally, tech sectors like artificial intelligence and chip shares rebounded to recover some losses incurred earlier this week.

(With inputs from agencies.)