The Shanghai Composite Index advanced 0.8% over the week ending May 16, closing at 3,367.46.
The market’s upward trajectory was bolstered by a rally in technology and financial stocks, coupled with a temporary de-escalation in US-China trade tensions.
The week commenced with the index at 3,352.97 on May 12, reaching a peak of 3,417.31 on May 14, before settling at 3,367.46 by week’s end.
Investor sentiment improved following an agreement between China and the US to temporarily reduce tariffs for a 90-day period, providing a respite in the ongoing trade conflict.
The technology sector led the gains, with major firms such as Huawei Technologies Co Ltd and Semiconductor Manufacturing International Corporation experiencing notable stock price increases. Financial stocks also contributed to the index’s rise, reflecting renewed investor confidence in the…
