Chinese Stocks Finish High on First Trading Day Following 'Golden Week,' Rare-Earth Controls

MT Newswires Live2025-10-09

Chinese stocks finished strong during the first trading day following the eight-day "super Golden Week" holiday.

The Shanghai Composite Index, the main gauge of Chinese stocks, inched up 1.3%, or 51.20 points, to close at 3,933.97. The Shenzhen Component Index grew 1.5% higher, adding 199.05 points, to close at 13,725.56.

China's key retail and catering businesses were upbeat during the holiday, growing 2.7% year over year.

Adding to the upbeat sentiment on Thursday was a surge in rare earth stocks after Beijing released tighter controls for rare earth exports.

The new rules are seen to defend Chinese dominance in critical metals used for defense and semiconductor products, Reuters reported separately.

Chinese exporters that use trace amounts, or as low as 0.1%, of rare earths from China will be subject to scrutiny, the Commerce Ministry said.

Rare-earth exports for military use would be prohibited, while those for semiconductors will be approved on a case-by-case basis, the ministry said.

China Northern Rare Earth (SHA:600111) finished 10% higher, while Shenghe Resources (SHA:600392) closed 9% higher, while JL Mag Rare-Earth (SHE:300748) surged 15% during closing.

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