Chinese shares rebounded on Wednesday amid optimism on China's growth prospects and the country's inflation stabilizing.
The Shanghai Composite Index, the main gauge of Chinese stocks, rose 1.2% to 3,912.21. The Shenzhen Component Index climbed 1.7% to 13,118.75. Both indices rebounded from the previous day's losses.
The International Monetary Fund retained its growth forecast for China at 4.8% in 2025 amid what the agency says is a "worrisome" outlook.
"A stronger-than-expected outturn in the past few quarters, reflecting front-loading in international trade and relatively robust domestic consumption supported by fiscal expansion in 2025, more than offset the headwinds from higher uncertainty and tariffs," according to the IMF.
Meanwhile, China's consumer price index contracted by 0.3% year over year in September, mainly due to a 4.4% drop in food prices. Producer prices stayed in deflationary territory in September, declining 2.3% year over year, narrowing from a 2.9% fall in August.
In company news, Shandong Gold Mining (SHA:600547) expects attributable net profit for the first nine months of the year to range between 3.8 billion yuan and 4.1 billion yuan, up between 84% and 99% from the previous year. Shares of the miner closed 3% higher Wednesday.
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