China's stock markets moved higher on Thursday, supported by better-than-expected economic growth data. The Shanghai Composite Index rose 0.7% to close at 4,056, its highest level in four weeks, while the Shenzhen Component Index climbed 2.1% to 14,796, returning to levels last seen in January 2022.
Investor sentiment improved after data showed China's economy grew by 5% in the first quarter, up from 4.5% in the previous quarter and above expectations. Strong exports helped balance weaker domestic demand.
March activity data showed mixed trends, with industrial production performing better than expected, while retail sales slowed and unemployment increased slightly.
Geopolitical developments also supported markets, with signs of easing tensions. Israel is considering a possible ceasefire in Lebanon, and Donald Trump said the broader conflict with Iran could end soon as talks to extend a fragile truce continue.
Among individual stocks, gains were led by Contemporary Amperex Technology (up 5.5%), Zhongji Innolight (up 3.8%), Foxconn Industrial Internet (up 2.6%), BYD (up 2.4%), and Zijin Mining (up 1.1%).