FX.co ★ Shanghai Stocks Extend Rally on Strong Data

The Shanghai Composite Index experienced a 0.26% increase, closing at 3,276 on Wednesday. This marks the seventh consecutive day of gains, driven by investor confidence in light of a series of positive economic indicators. China's economy has demonstrated a stronger-than-expected performance in the first quarter, supported by ongoing policy measures. March data for retail sales, industrial production, and fixed asset investment surpassed market expectations, boosting optimism about the country's recovery trajectory. However, the uptick was somewhat restrained by renewed tensions in US-China trade relations. President Donald Trump has initiated an investigation into the possibility of imposing new tariffs on critical mineral imports, many of which originate from China, raising concerns about further escalation in the existing trade conflict. Beijing has continued to oppose Trump's "trade bullying" while preparing for the comprehensive impacts of US tariffs. Leading performers in the session included Cambricon Technologies (+4.2%), Ofilm Group (+4.6%), and Seres Group (+1.2%).