China Stocks Surge Hits 10-Month High Amid Trade Optimism
China stocks ended slightly down on Friday but reached their highest level in 10 months this week, driven by positive economic data. Despite concerns over U.S. tariffs, the CSI300 Index increased and China shares performed well. However, investors are advised to remain cautious about possible trade tensions.
China's stock market saw minor declines on Friday, yet wrapped up the week close to a 10-month peak as positive economic indicators buoyed investor confidence, despite ongoing concerns about U.S. tariff policies. Conversely, Hong Kong shares faced a decline as the trade week concluded.
The CSI300 Index, representing China's blue-chip companies, ended the day 0.2% lower, while the Shanghai Composite Index saw a slight decrease of 0.1%. Hong Kong's Hang Seng Index dropped by 0.9%. Earlier in the day, the Shanghai Composite reached 3,645 points, the highest since October 2024.
This week's upward trajectory in China stocks was supported by robust trade and service sector statistics. Throughout the week, the CSI300 gained 1.2%, and the Hang Seng rose 1.4%. However, Morgan Stanley strategists warned of potential underpriced risks regarding the U.S.-China relationship. They pointed to upcoming political and financial events as possible turning points for the market.
(With inputs from agencies.)
Google News