29-May-2026      16:35

China stocks slip on trade tensions and tech sell-off

Chinese markets ended lower on Friday as renewed trade tensions with the EU weighed on sentiment. The Shanghai Composite dropped 0.73% to 4,069, while the Shenzhen Component fell 1.81% to 15,575, erasing earlier gains. Beijing warned of possible scrutiny on European goods like French cosmetics, meat, alcohol, and luxury items ahead of talks on EU restrictions on Chinese exports. Investors also awaited US President Donald Trump's formal approval of a 60-day extension to the US-Iran truce for nuclear negotiations.

Tech and semiconductor stocks led the declines, with Cambricon Technologies down 5.86%, SMIC sliding 8.97%, Hygon Information Technologies losing 6.51%, Zhongji Innolight off 3.07%, Eoptolink Technology down 1.66%, and NAURA Technology falling 4.42%. For the month, the Shanghai Composite slipped 1.06%, while the Shenzhen Component managed a 3.1% gain.

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