The Shanghai Composite Index rose 1.5% to 3,947 on Wednesday, while the Shenzhen Component advanced 3% to 13,807, both extending gains from the previous session and mirroring upbeat sentiment across other Asian markets. Optimism was supported by news of a ceasefire agreement in the Middle East. The deal, which takes effect immediately, calls for a two-week halt to US and Israeli airstrikes on Iran, conditional on Iran reopening the Strait of Hormuz to guarantee safe passage for global oil shipments.
Against a backdrop of global market volatility, China announced it would leave retail gasoline and diesel prices unchanged from April 8, while directing state-owned oil majors to maintain stable production levels.
Technology shares continued to outperform, with Zhongji Innolight, Eoptolink Technology, and NAURA Technology jumping between 5.7% and 7.3%. By contrast, energy names were among the weakest performers, including PetroChina (-5.4%), CNOOC (-6.3%), and China Shenhua Energy (-3.6%).
