| Chinese stock markets moved higher, with the Shanghai Composite gaining 1.3% and the Shenzhen Component rising nearly 2%, continuing the previous session’s momentum. Investor confidence improved on expectations that tensions in the Middle East could ease, as reports suggested the US is engaging Iran with a possible temporary ceasefire and a broader peace plan. Still, some caution remained after news that around 2,000 US troops were being sent to the region.
Back home, sentiment was also lifted by signals that Chinese authorities may delay or soften planned fuel price hikes. The central bank reiterated its stance to keep policies supportive in order to maintain steady economic growth and stable financial markets. Technology stocks led the rally, while energy shares came under pressure, with declines seen in major oil companies. |