Geopolitical Tensions Shake China Stock Markets
China stocks fell back from a 10-year high as geopolitical tensions dampened investor enthusiasm. Fresh export controls and U.S. pressures prompted a decline in major indices. Investors are now shifting focus to profit-driven strategies, with markets preparing for upcoming trade data releases amidst anticipated trade talks.
On Friday, China stocks recoiled from a decade-high while Hong Kong shares noted the longest losing streak since March, reflecting investor concerns over geopolitical tensions.
The CSI300 Index plunged by 2%, marking its steepest single-day fall in nearly five weeks, while the Shanghai Composite decreased by 0.9%.
Sparking this retreat were China's expanded export controls on rare earths, exacerbated by U.S. lawmakers advocating for tougher restrictions on chipmaking equipment exports to China.
(With inputs from agencies.)
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