The gains were driven by banking shares after China's big four lenders reported higher profits for the first quarter despite the impact of the pandemic.
China announced that the National People's Congress (NPC) will open a key annual session on May 22, indicating that the government sees the country returning to normal after months of disruption caused by the COVID-19 outbreak. The annual NPC is the key political and economic meeting to set the growth and budget deficit targets.
CURRENCY NEWS: China's yuan was up against the dollar on Wednesday, inline with firmer mid-point fixing by central bank. Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 7.0704 per dollar, up by 0.01% from the previous fix of 7.071.
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