On Friday, Chinese stocks remained relatively stable as investors continued to exercise caution ahead of important economic data releases slated for next week. The Shanghai Composite Index experienced a slight increase of 0.1%, closing at 3,032.63. Meanwhile, the Shenzhen Component Index saw a 0.5% rise to reach 9,252.25 by the end of trading.
Next week, China’s National Bureau of Statistics is expected to publish a range of critical economic data for the month of May, including retail sales, industrial production, and fixed-asset investment figures. In addition to this information, home prices, lending and aggregate financing data, and lending rates may also be released by the bureau.
In corporate news, Guangzhou Frontop Digital Creative Technology’s stock price jumped by 7.5% after it was announced that its unit, China Engineering Water Group, planned to acquire Guangzhou Zhonggong Water Information Technology for 79 million yuan. This move could have a significant impact on the company’s future growth prospects and market position within the industry.
