The Shangai Composite Index Closes 1.19% Lower

The Shangai Composite Index dropped 47 points or 1.19 percent on Thursday to close at 3890 points. Losses were led by Greenland Holdings (-5.96%), Zijin Mining (-4.46%) and Hengli Petrochemical (-4.15%).

The Shanghai Composite fell 1.22% to close at 3,888.4 on Thursday, while the Shenzhen Component lost 2.34% to 13,317, as uncertainty persisted over the extension of the US-China trade truce. Treasury Secretary Scott Bessent revealed that the US and China had agreed to extend their trade truce by two months, although China has not publicly confirmed it yet. The extension also falls short of the three-to-six-month continuation that some US officials had previously suggested. While expectations for the Trump-Xi summit remain modest, the meeting is still expected to cover AI, Iran, Taiwan, and broader economic relations, as both sides seek to maintain stability in bilateral ties. Among the notable losers were Kweichow Moutai (-1.14%), Foxconn Industrial Internet (-3.14%), China Life Insurance (-3.03%), CATL (-0.3%), Zhongji Innolight (-0.4%), and WUS Printed Circuit (-1.16%). The stock markets will be closed from September 25 to 27 for the Mid-Autumn Festival.

The Shangai Composite Index decreased 14 points or 0.36 percent on Wednesday to close at 3938 points. The decline was led by Yonyou Soft (-3.74%), Datang Intl (-2.87%) and China Coal (-2.18%). On the upside, the strongest performers were China Fortune (3.57%), Hengli Petrochemical (2.00%) and Sdic Power (1.89%).