China stocks notch fifth weekly gain despite renewed US-Iran hostilities

Chinese stocks recorded a fifth ​consecutive weekly gain on Friday, despite renewed U.S.-Iran ​hostilities threatening a fragile ceasefire, ‌while investors await ​the meeting between Beijing and Washington next week for cues on economic policies. ** At the close, the benchmark Shanghai Composite index was flat, ‌while the blue-chip CSI300 Index fell 0.58%.

Chinese stocks recorded a fifth ​consecutive weekly gain on Friday, despite renewed U.S.-Iran ​hostilities threatening a fragile ceasefire, ‌while investors await ​the meeting between Beijing and Washington next week for cues on economic policies.

** At the close, the benchmark Shanghai Composite index was flat, ‌while the blue-chip CSI300 Index fell 0.58%. ** In Hong Kong, the benchmark Hang Seng Index declined 0.87%, while the city's tech shares eased 0.36%.

** For the week, both the SSEC and CSI300 notched their fifth consecutive weekly ‌gains, the longest winning streak since last July, with the former rising 1.65% and the latter ‌up 1.34% this week. ** The HSI Index has gained 2.39% for the week.

** The U.S. and Iranian forces clashed in the Gulf, and the UAE came under renewed attack, endangering a month-old ceasefire and shaking hopes for a diplomatic solution ⁠to the ​crisis. ** Semiconductor shares led ⁠the losses, as investors locked in profit following recent gains. A sub-index tracking the sector lost 2.73%.

** Shanghai's tech-focused STAR50 Index ⁠dropped 2.29%. ** "China remains a relative bright spot, supported by strong risk appetite and renewed inflows," Wee Khoon Chong, APAC macro ​strategist at BNY, said in a note.

** "Geopolitics (Middle East) and next week's U.S.–China developments are key ⁠near-term catalysts." ** Much of the market attention will shift to U.S. President Donald Trump's visit to China next week and a ⁠string ​of domestic data, including trade on Saturday, inflation on Monday, and credit lending data later next week.

** The White House has invited a scaled-back CEO delegation to accompany Trump to Beijing next ⁠week, five sources briefed on preparations said, reflecting divisions in the administration on economic policy toward China and ⁠limited expectations for the summit. ** ⁠China's export growth likely quickened in April, a Reuters poll showed, as companies rushed to stockpile components from the manufacturing powerhouse amid fears the Iran ‌war could push input ‌costs even higher.