The Shanghai Composite Index fell 0.85% to close at 4,050 on Tuesday, marking its fourth consecutive decline, as growing uncertainty over the conflict in the Middle East and a rebound in oil prices weighed on investor sentiment. Iran has stepped up attacks on energy infrastructure across the region, while most countries have so far resisted US President Donald Trump’s call to help secure commercial shipping in the Strait of Hormuz.
At the same time, Trump asked China to postpone his planned summit with President Xi Jinping by about a month, saying he needed to concentrate on the war in Iran. He had earlier suggested that any delay could depend on China’s readiness to assist in protecting the strategic waterway.
Technology shares led the market lower, with notable declines in Eoptolink Technology (-5.8%), Zhongji Innolight (-3.3%), Suzhou TFC (-10%), Victory Giant (-3.1%), and Huagong Tech (-5.2%).
