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.
