Mumbai, June 12 -- China's stock markets bounced back on Friday. The Shanghai Composite rose 1.1% to close at 4,032, while the Shenzhen Component gained 0.8% to 14,963. The rebound followed strength across Asian markets, helped by renewed optimism that a Middle East peace deal could be near.

Even so, the week was mixed. The Shanghai Composite managed a small 0.1% weekly gain - its first in a month - while the Shenzhen Component dropped 2.3%, marking its third straight weekly decline. Earlier volatility was driven by US-Iran tensions, but sentiment improved after President Trump suggested a deal with Iran could be reached soon, potentially reopening the Strait of Hormuz.

Space-related stocks were standout performers, boosted by excitemen...