The Shangai Composite Index Closes 2.44% Lower

The Shangai Composite Index decreased -38 points or 0.96 percent on Friday to close at 3882 points. The decline was led by Kangmei Pharma (-4.37%), LONGi Green (-3.97%) and Aluminum Corporation of China (-3.94%). On the upside, the strongest performers were China Fortune (6.06%), Sanan Optoelectron (2.89%) and Inner Mongolia BaoTou Steel (1.91%).

The Shanghai Composite fell 1% to 3,880 on Friday, while the Shenzhen Component dropped 0.99% to 13,353, as investor caution persisted amid uncertainties surrounding the prolonged Middle East conflict. Regional tensions remain elevated, although Iran and Oman are reportedly working on a protocol to “monitor transit” through a key shipping route, an effort aimed at easing strains. Meanwhile, China and Pakistan are advocating their own multi-point diplomatic plan, while Iran continues to maintain tight control over the shipping lane. Domestically, RatingDog revealed that China's composite PMI fell to 51.5 in March from 55.4 in February, as both the manufacturing (50.8 vs 52.1) and services (52.1 vs 56.7) sectors lost momentum. Among major stocks, Contemporary Amperex Technology (-3.67%), BYD (-2.6%), and Bank of China (-2.02%) were among the worst performers. For the week, the Shanghai Composite and Shenzhen Component lost 0.86% and 2.96%, respectively.

The Shangai Composite Index fell -30 points or 0.76 percent on Thursday to close at 3919 points. Leading the losses are China Fortune (-4.32%), China Eastern Airlin (-3.74%) and SAIC Motor (-3.51%). Top gainers were China Coal (3.59%), Agricultural Bank of China (3.29%) and Kangmei Pharma (2.81%).