Shanghai Stocks Surge Amid U.S.-China Trade Optimism
Shanghai's stock market closed at a record high, driven by positive sentiment surrounding U.S.-China trade talks. Defence and coal sectors led gains, while President Trump hinted at a nearing deal with China. Investors yearn for clarity amid uncertainties, impacting global economic forecasts.

Shanghai's stock market reached its highest closing level in over three years, fueled by optimistic prospects for a lasting trade truce between the United States and China. The Shanghai Composite Index rose 0.45% to close at 3,633.99 points, as investors reacted positively to potential advancements in trade negotiations.
Defence and coal stocks spearheaded the gains, with U.S. President Donald Trump suggesting a trade deal with China is imminent. Investors like Winnie Chwang of Matthews Asia express cautious enthusiasm, highlighting ongoing uncertainties despite increased interest in Chinese markets.
Jason Lui from BNP Paribas noted China's move to reintroduce value-added tax on certain bonds, likely to reroute funds to equities. Meanwhile, the Hang Seng Index showed marginal movement, as market focus shifts to key economic data releases later this week, potentially shaping trade and inflation outlooks.
(With inputs from agencies.)
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