| China’s stock market ended lower on Monday, with the Shanghai Composite slipping 0.26% to close at 4,085, extending its losing streak to a third session. Investor sentiment remained cautious as geopolitical tensions in the Middle East intensified and oil prices stayed volatile. Over the weekend, the US carried out strikes on military sites near Iran’s key oil-export facility on Kharg Island. Traders are also watching reports that Washington may soon form an international coalition to escort ships through the Strait of Hormuz.
Markets are also looking ahead to a planned meeting between Chinese President Xi Jinping and former US President Donald Trump later this month, which could influence trade and geopolitical expectations.
On the economic front, recent data offered some support. China’s industrial production and retail sales both came in stronger than expected during the first two months of the year, helped by holiday-related spending and solid overseas demand. However, the property sector remains under pressure, with new home prices recording their biggest monthly drop in eight months.
Among individual stocks, losses were seen in companies such as Huagong Tech, Zijin Mining, Power Construction, Suzhou TFC, and China Energy Engineering. |