The Shangai Composite Index Closes 0.32% Lower

The Shangai Composite Index dropped 13 points or 0.32 percent on Thursday to close at 4093 points. Losses were led by Inner Mongolia BaoTou Steel (-4.48%), China Molybdenum (-3.68%) and Zijin Mining (-3.12%). Offsetting the fall, top gainers were China Coal (5.24%), Sanan Optoelectron (4.15%) and Avic Aviation Engine (3.48%).

The Shanghai Composite fell 0.32% to close at 4,093 on Thursday, while the Shenzhen Composite lost 0.88% to 15,043, with both benchmarks retreating after hitting a one-month high and a more-than-four-year peak, respectively, as investors grappled with a lack of fresh market catalysts and persistent geopolitical uncertainty. Tensions in the Middle East remained a key overhang, after Iranian forces fired on commercial vessels on Wednesday, while the US continues to enforce a blockade on ships linked to Iranian ports. Market attention has also turned to the April 27–30 session of the National People’s Congress Standing Committee, where lawmakers will review draft revisions to the Prison Law and consider other legislative changes. Significant losses were seen in Zijin Mining Group (-3.18%), BYD (-1.61%), Eoptolink Technology (-2.32%), Suzhou TFC Optical Communication (-6.74%), and Muyuan Foods (-2.75%).

The Shangai Composite Index went up by 21 points or 0.52 percent on Wednesday to close at 4106 points. The rise was led by Sanan Optoelectron (10.01%), Huatai Securities (2.16%) and CITIC Securities (1.33%). On the downside, the weakerst performers were Greenland Holdings (-4.79%), China United Network (-3.22%) and Hengli Petrochemical (-2.61%).