Chinese stocks remained relatively unchanged on Friday as investors remained cautious ahead of key economic data releases scheduled for next week. The Shanghai Composite Index inched up slightly to close at 3,032.63, while the Shenzhen Component Index saw a 0.5% increase to reach 9,252.25 by the end of trading.
Next week, the National Bureau of Statistics of China is expected to release data on retail sales, industrial production, and fixed-asset investment for the month of May. Additionally, data on home prices, lending and aggregate financing, and lending rates may also be published by the bureau.
In corporate news, Guangzhou Frontop Digital Creative Technology 3301313 saw a 7.5% jump in stock price following an announcement that its unit, China Engineering Water Group, plans to acquire Guangzhou Zhonggong Water Information Technology for 79 million yuan. This move could potentially have a significant impact on the company’s future growth and market position.