HONG KONG: Shanghai’s stock benchmark rose on Monday and was on course for its longest winning streak in more than a year, buoyed by a strengthening yuan and fresh government commitments to boost domestic consumption. At the midday break, the Shanghai Composite index climbed 0.3% to 3,975.92. The benchmark was on track for a ninth straight session of gains, which would be its longest winning streak since a 10-day run in September 2024. The blue-chip CSI300 index climbed 0.1% and was on course for a seventh consecutive day of gains. China’s finance ministry said on Sunday that fiscal policy would be “more proactive” next year, reiterating its focus on domestic consumption, technological innovation and the social safety net. The pledge follows data showing profits at China’s industrial firms fell in November at their fastest pace in more than a year, as weak domestic demand offset resilience in exports, underscoring calls for additional policy support. “As favourable policy signals strengthen and the renminbi continues to appreciate, stock markets are gaining upward momentum,” analysts at Nanhua Futures said. “Bulls are becoming more eager to jump in and market sentiment stays upbeat. We think stock indices will likely keep running strong.” Leading gains on Monday, the artificial intelligence-related stocks added added 0.8% and the info tech sector gained 1.3%. The defense sector rose as much as 1% to a three-year high after China launched war games around Taiwan. Weighing on the markets, the new energy vehicle index and the new energy sector dropped 1% and 0.8%, respectively. China’s passenger car association head said that demand for Chinese lithium batteries will likely slump in early 2026 due to an expected tumble in domestic electric vehicle sales and slowing battery exports. In Hong Kong, the benchmark Hang Seng Index added 0.3% to 25,887.33, the tech index jumped 1.6% to near a two-week high. Elsewhere in Asia, MSCI’s Asia ex-Japan stock index was up 0.7%, while Japan’s Nikkei fell 0.4%.