The Shanghai Composite rose 0.3% to above 3,780 on Friday, while the Shenzhen Component gained 0.6% to 11,990, with the former touching a fresh decade high as strong fund rotations and retail buying extended the market rally. Chinese equities have surged in recent weeks as investors shifted out of bonds into stocks, with margin financing climbing to levels last seen during the 2015 bull market. Sentiment has also been supported by easing US-China trade tensions and Beijing’s efforts to curb excessive competition, even as domestic economic data remain weak and policy support relatively modest. Investors also turned their focus to Federal Reserve Chair Jerome Powell’s upcoming Jackson Hole speech for clues on the global interest rate outlook. Among standout movers, China Northern Rare Earth jumped 6.9%, Cambricon Technologies surged 13.5%, and Hygon Information soared 15.8%. For the week, the Shanghai and Shenzhen indexes are set to advance more than 2% and 3%, respectively.