Chinese Stocks Jump Over Potential US-Iran Deal

MT Newswires Live05-07

Chinese equities made gains for a second day as sentiment was uplifted over the possibility of the U.S. and Iran striking a deal.

The Shanghai Composite Index rose 0.5%, or 19.92 points, to finish Thursday's trade at 4,180.09. The Shenzhen Component Index jumped 1.2%, or 182.27 points, to 15,641.89.

U.S. President Donald Trump said the U.S. and Iran had "very good talks" after the U.S. handed a proposal in ending the war.

In corporate news, Far East Smarter Energy (SHA:600869) jumped 7.3% after receiving contract orders worth 2.63 billion yuan in April.

Inner Mongolia Xingye Silver & Tin Mining (SHE:000426) climbed 6.6% after a unit agreed to fully acquire Tibet Sunshine Mining Investment for 164 million yuan.

Jinko Power Technology (SHA:601778) rose 3.8% after deciding not to redeem early bonds worth 3 billion yuan despite its redemption clause being triggered.

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