China’s Shanghai Markets Rally to 10-Year Peak as Stablecoin and Fintech Stocks Ignite

China’s equity markets soared on Thursday, with the Shanghai Composite closing at a decade-high of around 3,770 — the strongest level seen since 2015 — while the CSI300 index climbed 0.4%. The surge was fueled by standout performances among fintech and stablecoin-related stocks, igniting optimism as China signals a major reversal on digital currency policy following its 2021 crypto crackdown.
The CSI Fintech Theme Index rose nearly 0.8%, led by Brilliance Technology’s 12.6% jump and Tansun Technology’s 4.8% gain. Beyond those individual wins, investors were buoyed by softer U.S.–China trade rhetoric, better liquidity conditions, and a clear shift from bond markets into equities. UBS strategist James Wang highlighted swelling retail investor interest and higher trading volumes as key drivers behind the bullish sentiment.