2026.04.2902:20:24UTC+00China Stocks Gain Despite Renewed US–China Strains

The Shanghai Composite Index edged up 0.2% to 4,084 on Wednesday, while the Shenzhen Component Index added 0.3% to 14,880, partially recovering from the previous session’s losses despite a renewed flare-up in US–China tensions ahead of next month’s planned summit between Presidents Donald Trump and Xi Jinping.

Washington intensified scrutiny of China’s dealings with Iran, imposing sanctions on a major Chinese refiner and warning Chinese banks that they could face secondary sanctions if they continue to facilitate Iran-linked activities. Tensions were further stoked after Meta Platforms Inc. was blocked from acquiring AI startup Manus, underscoring Beijing’s determination to retain control over strategic technologies. Additional pressure came from newly introduced rules aimed at tightening oversight of supply chains and export compliance.

On the corporate front, notable gainers included Zhongji Innolight (up 1.4%), BYD (up 2.4%), and Midea Group (up 1.1%). Foxconn, by contrast, slipped 3.6%, even as it posted triple-digit growth in AI-related revenue and profits, supported by robust demand for cloud and server products.