Published on 03/06/2026 at 02:45 am EST
(MT Newswires) -- Chinese shares rose on Friday as sentiment is still high over the new economic target, while investors are hopeful over China's talks with Iran to reopen the Strait of Hormuz.
The Shanghai Composite Index climbed 0.4%, or 15.63 points, to cap the week's trade at 4,124.19. The Shenzhen Component Index jumped 0.6%, or 83.79 points, to 14,172.63.
Beijing is reportedly negotiating with Iran to let crude oil shipments pass through the Strait of Hormuz amid the Middle East conflict, according to a report from Reuters, citing sources.
The strait's closure shut off one-fifth of the world's oil supply. Reopening the critical trading chokepoint may mitigate the dwindling of global oil supply and price hikes.
Meanwhile, sentiment is still high after China set a gross domestic product target of between 4.5% and 5% for the year, despite deviating from the previous target of around 5% in the past three years.
In corporate news, Goode EIS (Suzhou) surged 118.5% at the closing of its trading debut. The insulating composite materials maker's shares rose three times higher to 126.71 yuan apiece from the initial price offering of 58 yuan per share.
Ningbo Sanxing Medical Electric soared 10% after agreeing to provide oil-immersed transformers to Enexis in a 117 million euro deal.
Zhejiang Medicine jumped 8% after its unit started the phase II clinical trial of antibody-AS269 conjugate as a treatment for lymphoma.
Sumber : MT Newswires
powered by: IPOTNEWS.COM
