The Shanghai Composite Index slipped 0.4% to 3,921 on Thursday, while the Shenzhen Component Index declined 0.9% to 13,521, as uncertainty lingered over whether the US-China trade truce would be extended. The moves came as Chinese President Xi Jinping arrived in the United States for his first visit in 11 years. During the visit, US Treasury Secretary Bessent said Washington and Beijing had agreed to prolong the trade truce by two months, until January 10. However, Beijing has not publicly confirmed that date, and the extension is shorter than the three-to-six-month period some US officials had previously floated.
Expectations for the Trump-Xi summit remain muted, but the talks are still anticipated to address artificial intelligence, Iran, Taiwan, and broader economic ties, as both sides seek to preserve stability in the relationship. Notable decliners in the session included Foxconn Industrial Internet (-1.1%), Zijin Mining Group (-1.3%), CATL (-1.2%), and Suzhou Dongshan Precision Manufacturing (-2.6%).
