The Shanghai Composite Index inched up 0.1% to 3,960 on Thursday, while the Shenzhen Component Index gained 0.5% to close at 14,122. Investors largely shrugged off renewed US threats of sanctions tied to China’s relationship with Iran. US President Donald Trump indicated that Chinese banks could be targeted, and Treasury Secretary Scott Bessent earlier cautioned that financial institutions helping to channel Iranian oil revenues may come under Washington’s intensified pressure campaign against Tehran.
Separately, reports surfaced that the US is preparing to levy a 7.5% tariff on Chinese goods over alleged industrial overcapacity. Even so, both Washington and Beijing are moving ahead with preparations for Chinese President Xi Jinping’s planned visit to the US next month.
On the corporate front, notable gainers included PetroChina (+1.1%), Foxconn Industrial Internet (+1.5%), Zhongji Innolight (+0.9%), and Huagong Tech (+1.3%).
