A-Share Market Surges: STAR 50 Leads with 1.71% Gain

The A-share market closed higher on August 26, with all three major indices rising collectively. The STAR 50 Index led the gains, increasing by 1.71%. The Shanghai Composite Index rose 0.59% to 3,912.52 points, while the Shenzhen Component Index and ChiNext Index increased by 0.69% and 0.51%, respectively.

The non-ferrous metals sector was a major driver of the gains, with industrial metals rising 3.33%. This was partly due to the overnight closure of LME copper futures at USD 14,324.5 per tonne, a new historical high. Jiangxi Copper reported a 106.77% year-on-year increase in net profit attributable to shareholders in its semi-annual report.

The broad financial sector also strengthened, with the securities sub-sector rising 2.75%. Twenty listed brokerage firms disclosed their first-half results, with several reporting net profit increases exceeding 100%. The paper manufacturing sector rose 3.79%, topping the gainers list.