Shanghai Composite closes up 21.92 points, lifted by gold mining stock buying

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The Shanghai Composite Index closed higher today at 3,900.35 points, up 21.92 points or 0.57 percent, supported by a surge in gold mining stocks which rallied in line with spot gold prices amid a weaker US dollar and lower bond yields. Shandong Gold Mining jumped 3.49 percent, Zhongjin Gold surged 3.55 percent, and Zijin Mining Group rose 1.17 percent. Meanwhile, artificial intelligence and semiconductor stocks were sold for profit, with SMIC falling 1.04 percent. Investors are watching key Chinese economic data this week, including July trade figures due tomorrow and July consumer and producer price indexes on Sunday.

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