The Shangai Composite Index Closes 1.70% Lower

The Shangai Composite Index fell 23 points or 0.64 percent on Friday to close at 3633 points. Leading the losses are China Molybdenum (-3.60%), Sanan Optoelectron (-2.99%) and China Fortune (-2.73%). Top gainers were Petrochina (3.16%), Crrc (2.55%) and Shaanxi Coal (2.47%).

The Shanghai Composite fell 0.59% to close at 3,634.4 on Friday, while the Shenzhen Component slumped 2.05% to 10,968.8, extending losses from the previous session as investors remained cautious ahead of next week’s Trump-Xi summit. The high-stakes meeting in Shenzhen faces renewed uncertainty after allegations surrounding Nvidia CEO Jensen Huang’s ties to a suspected Chinese spy threatened to reignite bilateral friction over semiconductor trade. Huang’s controversy could hand US lawmakers fresh ammunition to push for stricter technology controls ahead of the leaders’ talks. AI-related stocks were among the worst performers, particularly Zhongji Innolight (-8.39%), NAURA Technology (-1.04%) and Eoptolink Technology (-8.76%). Other notable laggards included Foxconn Industrial Internet (-7.50%), Zijin Mining Group (-1.49%) and BeOne Medicines (-2.58%). Over the week, the Shanghai Composite fell 0.41%, while the Shenzhen Component lost 1.85%.

The Shangai Composite Index dropped 25 points or 0.67 percent on Thursday to close at 3656 points. Losses were led by Zijin Mining (-3.88%), China Molybdenum (-2.84%) and SAIC Motor (-2.82%). Offsetting the fall, top gainers were Avic Shenyang Aircraft (1.89%), ICBC (1.76%) and Bank Of China (1.58%).