The Shanghai Composite rose 0.18% to close at 3,242, while the Shenzhen Component gained 0.6% to 10,161 on Friday, with both benchmarks finishing the week higher in response to positive economic data. China’s economy grew 5.4% year-on-year in the fourth quarter of 2024, accelerating from a 4.6% expansion in the third quarter and surpassing expectations of 5%. Industrial production and retail sales also outperformed forecasts in December, while new home prices declined at a slower pace. Although the latest data offered no clear indication that Beijing will introduce further stimulus measures soon, state media reported that China’s central bank may cut the reserve requirement ratio for banks ahead of the Spring Festival later this month. Notable stock performers included ZTE Corp (+3.3%), Suzhou TFC Optical (+5.2%), Greatoo Intelligent (+10%), Hithink Royalflush (+2.5%), and Gigadevice Semiconductor (+5.1%).
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