23.04.202602:25:53UTC+00China Stocks Retreat Amid US-Iran Woes

The Shanghai Composite fell 0.2% to 4,098 on Thursday, while the Shenzhen Composite declined 0.4% to 15,117. Both indices pulled back after the Shanghai benchmark recently touched a one-month high and the Shenzhen gauge reached its highest level in more than four years, as investors contended with a lack of fresh catalysts and ongoing geopolitical risks.

Persistent tensions in the Middle East remained a major headwind, with Iran restricting most international shipping through the Strait of Hormuz. Reports indicated that Iranian forces fired on commercial vessels on Wednesday, while the US continued to enforce a blockade on ships linked to Iranian ports.

Domestically, investors were also focused on the April 27–30 session of the National People’s Congress Standing Committee, where lawmakers are set to review draft revisions to the Prison Law and consider additional legislative changes.

On the corporate front, notable declines were recorded in Zijin Mining Group (-2.5%), BYD (-2.2%), Suzhou TFC Optical Communication (-4.6%), and Muyuan Foods (-3%).