The Shanghai Composite Index rose 0.7% to close at 4,056, marking a new four-week high, while the Shenzhen Component Index advanced 2.1% to 14,796, returning to levels last seen in January 2022. Sentiment was supported by stronger-than-expected first-quarter economic data. China’s GDP grew 5% year-on-year in Q1, accelerating from 4.5% in the previous quarter and surpassing forecasts, as resilient exports helped offset still-subdued domestic demand.
March activity indicators were mixed: industrial production outperformed expectations, but retail sales weakened and the unemployment rate inched higher.
On the geopolitical front, Israel is considering a potential ceasefire in Lebanon, while US President Donald Trump indicated that the broader conflict with Iran could be nearing an end, amid ongoing efforts to extend a fragile truce and restart negotiations.
Among individual stocks, notable gainers included Contemporary Amperex (+5.5%), Zhongji Innolight (+3.8%), Foxconn Industrial (+2.6%), BYD (+2.4%), and Zijin Mining (+1.1%).
