28.05.202602:08:01UTC+00China Stocks Remain Under Pressure

The Shanghai Composite Index slipped 0.3% to 4,080 on Thursday, its third consecutive decline, while the Shenzhen Component Index fell 0.6% to 15,644, marking a second straight loss. Market sentiment remained fragile amid ongoing uncertainty over a potential US–Iran agreement. The United States confirmed it had carried out defensive airstrikes on an Iranian military facility, and key sticking points in the talks — including Tehran’s control of the Strait of Hormuz and its nuclear program — remain unresolved.

On the domestic front, worries about softening Chinese fuel demand resurfaced, as disruptions to crude shipments through the Strait of Hormuz added strain to global energy markets. London-based consultancy Energy Aspects Ltd. estimates that China’s crude oil imports are on pace to average 10.9 million barrels per day this year, the lowest level since 2022.

Technology shares led the downturn, with notable declines in Hygon Information Technology (-7.1%), Cambricon Technologies (-5%), NAURA Technology (-3.5%), and Victory Giant Technology (-3.5%).