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The Shanghai Composite Index fell 0.7% to close at 3,966 on Thursday, while the Shenzhen Component Index declined 0.3% to 13,996, erasing gains from the previous session as investors reassessed the sustainability of a fragile US–Iran ceasefire. Geopolitical tensions intensified after Israel launched its heaviest strikes to date on Lebanon, and Iran cautioned that it may be “unreasonable” to continue negotiations on a permanent agreement, casting fresh doubt over the truce.
Losses were led by consumer staples and financials, each down 1.4%. Notable individual decliners included Foxconn Industrial (-2.8%), Zijin Mining (-2.1%), and BYD (-2.2%). In contrast, energy shares inched higher, supported by a rebound in global oil prices.
Attention now turns to China’s first-quarter inflation figures, due Friday, which are expected to provide further insight into the strength of domestic demand. Economists anticipate that China will exit deflation sooner than markets currently expect, with the producer price index (PPI), consumer price index (CPI), and GDP deflator all projected to return to positive year-on-year growth in the first quarter.
