周五，上证综指上涨0.3%，收于3780点以上，而深证综指上涨0.6%，收于11990点，由于强劲的基金轮换和零售购买延续了市场反弹，上证综指数创下十年新高。最近几周，随着投资者从债券转向股票，中国股市飙升，保证金融资攀升至2015年牛市期间的水平。尽管国内经济数据仍然疲软，政策支持相对温和，但美中贸易紧张局势的缓解和北京遏制过度竞争的努力也支撑了市场情绪。投资者还将注意力转向美联储主席杰罗姆·鲍威尔即将在杰克逊霍尔发表的演讲，以寻找全球利率前景的线索。其中，中国北方稀土上涨6.9%，寒武纪科技上涨13.5%，海健信息上涨15.8%。本周，上海和深圳指数将分别上涨2%和3%以上。

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.