China Stocks Track Asian Peers Higher

2026-04-08 02:39 By Czyrill Jean Coloma 1 min. read

The Shanghai Composite climbed 1.5% to 3,947 on Wednesday, while the Shenzhen Component surged 3% to 13,807, both extending their gains from the previous session and tracking broader positive sentiment across Asian peers, as market optimism was fueled by the ceasefire agreement reached in the Middle East.

The ceasefire, which will take effect immediately, includes a two-week suspension of US and Israeli airstrikes on Iran, contingent on Iran reopening the Strait of Hormuz to ensure safe passage for global oil shipments.

Amid global volatility, China announced it would keep retail gasoline and diesel prices unchanged starting April 8, while also instructing state oil giants to ensure steady production.

Tech stocks continued their strong performance, with Zhongji Innolight, Eoptolink Technology, and NAURA Technology soaring between 5.7% and 7.3%.

In contrast, energy stocks PetroChina (-5.4%), CNOOC (-6.3%), and China Shenhua Energy (-3.6%) were among the worst laggards.



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China Stocks Track Asian Peers Higher
The Shanghai Composite climbed 1.5% to 3,947 on Wednesday, while the Shenzhen Component surged 3% to 13,807, both extending their gains from the previous session and tracking broader positive sentiment across Asian peers, as market optimism was fueled by the ceasefire agreement reached in the Middle East. The ceasefire, which will take effect immediately, includes a two-week suspension of US and Israeli airstrikes on Iran, contingent on Iran reopening the Strait of Hormuz to ensure safe passage for global oil shipments. Amid global volatility, China announced it would keep retail gasoline and diesel prices unchanged starting April 8, while also instructing state oil giants to ensure steady production. Tech stocks continued their strong performance, with Zhongji Innolight, Eoptolink Technology, and NAURA Technology soaring between 5.7% and 7.3%. In contrast, energy stocks PetroChina (-5.4%), CNOOC (-6.3%), and China Shenhua Energy (-3.6%) were among the worst laggards.
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The Shangai Composite Index rose 11 points or 0.28 percent on Tuesday to close at 3891 points. Leading the gains are Hengli Petrochemical (5.47%), China Coal (4.54%) and Inner Mongolia BaoTou Steel (4.14%). Top losers were Avic Aviation Engine (-5.10%), China Fortune (-4.32%) and China Pacific Insu (-2.75%).
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The Shanghai Composite Index rose 0.3% to close at 3,890 on Tuesday, while the Shenzhen Component Index gained 0.4% to 13,400, with both benchmark indices rebounding from losses in the previous week, despite ongoing uncertainty surrounding the Middle East conflict. President Donald Trump warned that the US could target Iran’s power plants and bridges if the Strait of Hormuz was not reopened by an 8 p.m. Eastern Time deadline on Tuesday. However, he also said that talks with Iran were “going well,” emphasizing that reopening the strait remained “a very big priority.” Domestically, investor attention is turning to inflation data due on Wednesday, with consumer price growth expected to ease slightly, while producer prices are forecast to record their first annual increase since 2022. Notable gains were posted by energy stocks, particularly PetroChina (1.5%) and CNOOC (1.4%). Tech stocks also performed well, with Zhongji Innolight rising 1.9% and Eoptolink Technology gaining 0.7%.
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