The Shangai Composite Index Closes 0.57% Lower

The Shangai Composite Index dropped 23 points or 0.57 percent on Thursday to close at 4061 points. Losses were led by Aluminum Corporation of China (-9.33%), China Molybdenum (-5.73%) and Huaneng (-4.60%). Offsetting the fall, top gainers were Shanghai Petrochemical (10.10%), Sanan Optoelectron (9.99%) and Avic Aviation Engine (3.68%).

The Shanghai Composite fell 0.64% to close at 4,058 on Thursday, while the Shenzhen Component lost 0.27% to 15,662, with both benchmarks snapping a two-session winning streak as investors weighed mounting trade tensions involving China. The US Trade Representative proposed additional tariffs of up to 12.5% on imports from 60 trading partners, including China, due to take effect next month, over alleged failures to prevent imports linked to forced labor. Adding to concerns, the EU unveiled the Industrial Accelerator Act and the Cybersecurity Act, which could limit Chinese firms' access to parts of the EU market. Beijing warned of retaliation, raising fears of a broader trade dispute. Among individual stocks, notable losses were recorded in CATL (-4.27%), BYD (-1.46%), and Suzhou TFC Optical Communication (-3.4%). Meanwhile, GigaDevice Semiconductor surged 7.53% after FTSE Russell announced the stock's inclusion in its China index series.

The Shangai Composite Index went up by 14 points or 0.33 percent on Wednesday to close at 4089 points. The rise was led by Shanghai Petrochemical (10.04%), China Coal (4.09%) and Huatai Securities (2.79%). On the downside, the weakerst performers were Greenland Holdings (-4.05%), China Fortune (-3.94%) and China Eastern Airlin (-3.84%).