Shanghai Index posts first weekly rise

Chinese and Hong Kong stocks rose, with the Shanghai Composite Index recording its first weekly gain in a month amid optimism after the United States canceled its potential attack on Iran. The Shanghai Index closed up by 1.1%, while the Hang Seng Index in Hong Kong increased by 1.9%. Additionally, news of a halt in geopolitical tensions boosted markets, leading to rises in gold and defense company shares. Investors also anticipate continued market volatility due to regulatory concerns and demand fluctuations. The yuan appreciated by 0.09% against the dollar, supported by expectations of improved demand for Chinese exports.

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