| Chinese markets ended lower on Friday, with the Shanghai Composite down 1% to 3,880 and the Shenzhen Component falling 0.99% to 13,353, as investors stayed cautious due to ongoing uncertainty around the prolonged Middle East conflict. While tensions remain high, reports suggest Iran and Oman are working on a plan to monitor transit through a key shipping route in an effort to ease pressure. At the same time, China and Pakistan are pushing their own diplomatic approach, even as Iran keeps tight control over the passage.
Back home, economic data added to concerns. RatingDog reported that China’s composite PMI slowed to 51.5 in March from 55.4 in February, with both manufacturing (50.8 vs 52.1) and services (52.1 vs 56.7) losing momentum.
Among major stocks, losses were led by Contemporary Amperex Technology (-3.67%), BYD (-2.6%), and Bank of China (-2.02%). For the week, the Shanghai Composite slipped 0.86%, while the Shenzhen Component dropped 2.96%. |