Stocks in China Hit 10-1/2-year High

The Shangai Composite Index decreased 42 points or 1.01 percent on Friday to close at 4136 points. The decline was led by Sanan Optoelectron (-8.08%), China Molybdenum (-6.88%) and Aluminum Corporation of China (-6.03%).

The Shanghai Composite Index fell 1.02% to close at 4,135 on Friday, while the Shenzhen Component Index dropped 1.17% to 15,561, extending losses from the previous session as investors remained underwhelmed by the limited concrete details from the Trump–Xi summit. During the second day at Zhongnanhai, Trump said that “a lot of good” had come from the visit and claimed the two sides had reached “fantastic trade deals,” while Xi said both countries had agreed to stabilize trade ties, expand cooperation, and manage differences constructively. Key developments included reports that China is set to purchase 200 Boeing aircraft and boost imports of US agricultural goods by “double-digit billions” of dollars over the next three years. Major decliners included Agricultural Bank of China (-1.33%), Foxconn Industrial Internet (-1.43%), Zhongji Innolight (-3.15%), and BYD (-2.42%). For the week, the Shanghai Composite Index lost 1.07%, while the Shenzhen Component Index edged down 0.02%.

The Shangai Composite Index fell 62 points or 1.47 percent on Thursday to close at 4180 points. Leading the losses are Avic Aviation Engine (-5.04%), Greenland Holdings (-4.38%) and China Fortune (-4.31%).