China Stocks Rise Amidst Trade Optimism and Awaited GDP Data
China's stock market experienced slight gains on Monday, driven by positive trade data and anticipation of GDP figures, despite ongoing concerns over tariffs. The CSI300 Index rose 0.2% and the Shanghai Composite Index 0.4%. Hong Kong's Hang Seng and tech indexes saw modest increases amidst fluctuating market sentiments.
On Monday, China stocks made modest advances as investors reacted to encouraging trade data, holding their breath for upcoming GDP figures amid ongoing tariff concerns.
At the midday trading break, the CSI300 Index was up 0.2%, while the Shanghai Composite Index rose by 0.4%, approaching a peak not seen since October. In Hong Kong, the Hang Seng Index nudged up 0.1%, grappling with gains and losses throughout the morning session.
The positive sentiment comes on the heels of fresh data showing a robust rebound in China's trade activities as exporters made the most of a tentative tariff truce between Beijing and Washington. Exports jumped 5.8% in June compared to the previous year, outpacing forecasts, while imports rose 1.1%, reversing May's decline. Investors are now keenly watching out for the second-quarter GDP data due on Tuesday, which economists estimate could show a growth of 5.1%.
(With inputs from agencies.)
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