The Shanghai Composite and Shenzhen Component indices remained relatively stable on Thursday, facing challenges in finding clear direction amidst escalating uncertainty surrounding Sino-U.S. trade relations. U.S. President Donald Trump expressed on Wednesday that reaching a trade agreement with Chinese President Xi Jinping was "extremely hard," despite earlier indications that the leaders might converse this week. The situation intensified as Beijing hesitated to relax restrictions on rare earth exports, a critical issue for the U.S., coupled with China's accusations that Washington is restricting its access to advanced technologies.
In terms of economic indicators, China's services sector showed an accelerated growth in May, buoyed by stronger expansion in new business and overall activity, providing some relief amid broader economic uncertainties. In the corporate sphere, significant gainers were Fujian Snowman, rising by 7.8%, GZ Kingteller by 4.4%, and Yusys Technologies by 10.3%. Conversely, BYD Company experienced a 0.8% decrease, while Contemporary Amperex declined by 0.6%.
