The Shangai Composite Index Closes 1.07% Lower

The Shanghai Composite rose 0.2% to around 3,900, while the Shenzhen Component gained 0.4% to 13,600 on Friday as upbeat economic data lifted sentiment. However, both benchmarks are headed for sharp weekly declines as uncertainty over the Middle East conflict persisted, despite US President Donald Trump extending the Iran negotiations deadline by 10 days. Reports that the US may deploy up to 10,000 additional troops to the region further weighed on risk appetite. Markets also tracked upcoming US–China diplomatic engagement, with Trump expected to meet Xi Jinping in May after delays linked to the conflict. Meanwhile, latest data showed China’s industrial profits jumped 15.2% year-on-year in January–February, pointing to improving factory earnings despite external headwinds. Among individual stocks, notable gains were seen in Kweichow Moutai (1.5%) and Zijin Mining (0.8%), while CNOOC (-0.9%), Foxconn Industrial (-1.5%), and Zhongji Innolight (-2.1%) lagged behind.

The Shangai Composite Index decreased -42 points or 1.07 percent on Thursday to close at 3890 points. The decline was led by Sanan Optoelectron (-7.52%), China Life Insurance (-4.84%) and New China Life (-4.40%).

The Shanghai Composite Index fell 1.1% to close at 3,889, while the Shenzhen Component Index dropped 1.4% to 13,606 on Thursday, retreating after two consecutive sessions of gains as investors weighed conflicting signals surrounding efforts to ease tensions in the Middle East. The US reportedly delivered a 15-point proposal to Iran aimed at ending the ongoing conflict, with the plan conveyed via Pakistan. However, uncertainty persisted after Iranian state media reported a negative response, citing a senior political-security official who outlined a counterproposal. Meanwhile, the White House said US President Donald Trump is set to visit Beijing on May 14–15 for a high-level summit with Chinese President Xi Jinping. Tech stocks led the losses, including Zhongji Innolight (-2.3%), Eoptolink Technology (-4%), and NAURA Technology (-3.9%). Other notable decliners included BYD (-3.3%), Ping An Insurance (-3.4%), and Zijin Mining Group (-3.5%).