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Chinese stocks close higher, drop for the month
Shanghai Composite up 0.73% at 2,967 points (Il Sole 24 Ore Radiocor) - Shanghai , 28 Jun - Chinese stocks closed higher, rebounding from yesterday's drop amid strong Asian markets. The mainland markets lagged their regional peers this month, with the Shanghai Shenzhen CSI 300 and Shanghai Composite indexes down around 3% in June.
Concerns over a potential trade war with the West has weighed on sentiment in recent weeks as Beijing warned of possible retaliatory measures over European tariffs on Chinese electric vehicle imports.
Weak data rekindling concerns that economic growth in the country was slowing also kept sentiment in check.
Caution prevailed as the Chinese Communist Party's central committee prepares to convene in July for a key meeting known as a plenum to discuss reform measures.
The Shanghai Composite closed up 0.73% at 2,967 points, while the Shenzhen CSI 300 closed up 0.22% at 3,461 points.
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(RADIOCOR) 28-06-24 11:15:56 (0252) 5 NNNN