Shanghai shares close higher on peace hopes
(Il Sole 24 Ore Radiocor) - Milano, 1 apr - Chinese share prices closed higher as investor sentiment improved after US president Donald Trump said that the US could end the war with Iran within the next few weeks. Gains were supported by a surge in corporate share buybacks, with 43 firms pledging 25.6 billion yuan to repurchase shares.
On the economic front, China's manufacturing PMI fell to 50.8 in March from 52.1 in February, indicating that while the sector is still growing, the pace of expansion has slowed.
Gains were led by financial stocks.
The Shanghai Composite index rose 1.46% to close at 3,948.55.
points.
(RADIOCOR) 01-04-26 09:46:01 (0203) 5 NNNN