| Chinese equities experienced a downturn on Thursday amid persistent concerns regarding the longevity of the US-China trade détente. The Shanghai Composite decreased 1.22% to 3,888.4, whereas the Shenzhen Component retreated 2.34% to 13,317.
US Treasury Secretary Scott Bessent reported that the US and China have concurred to prolong the trade détente by two months, although China has yet to formally acknowledge the arrangement. The extension represents a briefer duration compared to the three-to-six-month timeframe previously indicated by certain US officials.
Equities are exhibiting restraint in anticipation of a potential Trump-Xi summit. The discussions are projected to encompass domains such as artificial intelligence, Iran, Taiwan and wider economic relationships, with both parties seeking to maintain stability in their bilateral ties.
Key equities registered declines, with Kweichow Moutai decreasing by 1.14%, Foxconn Industrial Internet shedding 3.14%, China Life Insurance decreasing 3.03%, CATL retreating 0.3%, Zhongji Innolight falling 0.4%, and WUS Printed Circuit declining 1.16%.
Chinese equity markets will be suspended from September 25 to 27 for the Mid-Autumn Festival. |