** The bluechip CSI300 Index closed up 0.7%, while the Shanghai Composite Index gained 0.5%. Both indexes touched their highest levels since March 7.
** For the week, CSI 300 Index edged up 1.8%, while the Shanghai Composite Index climbed 1.7%.
** Foreign investors ploughed money into Chinese stocks and bonds in March, latest data from the Institute of International Finance (IIF) showed.
** Flows into Chinese stocks more than doubled from February to $7.2 billion, bringing total investment into Chinese equities this year to $30 billion, with the removal of COVID-19 restrictions still boosting markets, according to IIF.
** The market was also aided by hopes of improvement in
China-Europe ties following years of souring relationship.
** European Union chief Ursula von der Leyen and French
President Emmanuel Macron met Chinese President Xi Jinping in
Beijing. In the closely-watched talks, Macron said the West must
engage China to help end the Ukraine crisis and prevent
"spiralling" tensions that could split global powers into
warring blocs.
** An index tracking artificial intelligence (AI) stocks
rose 1.5%, as the sector remains buoyant after surges over the
past month on the back of ChatGPT fever.
** Property shares soared amid optimism of a
gradual recovery of a sector pounded by Beijing's deleveraging
campaign. Healthcare stocks jumped 2.8%.
** Shares of China International Capital Corp (CICC) jumped 5.7% in Shanghai. Sources told Reuters that
dealmakers at the Chinese investment bank will see bonuses
slashed by as much as 40%, which will potentially reduce cost
and benefit shareholders.
(Reporting by Shanghai Newsroom; editing by Krishna Chandra
Eluri and Jason Neely)
