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Chinese equity markets moved higher on Wednesday, supported by strong gains in technology stocks and improving global sentiment. The Shanghai Composite rose 1.17% to close at a two-month high of 4,160, while the Shenzhen Component climbed 2.33% to 15,460, marking its strongest level since February 2021. Investor sentiment improved after market participants returned from an extended holiday break and reacted positively to easing geopolitical tensions. Optimism was supported by signals from Donald Trump regarding progress toward a possible Iran agreement, along with a temporary pause in US-led maritime operations in the Strait of Hormuz. Technology stocks led the rally, driven by strong interest in artificial intelligence-related companies across Asian markets. Investors shifted towards growth-oriented sectors, boosting shares of firms such as Hygon Information Technology, Cambricon Technologies, Zhongji Innolight, and NAURA Technology. Supporting the positive momentum, recent data showed an improvement in economic activity. China's composite PMI rose to 53.1 in April from 51.5 in March, with both manufacturing and services sectors contributing to the expansion. Overall, the rally reflects renewed investor confidence driven by easing geopolitical risks and strong performance in the technology sector. Powered by Capital Market - Live News
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