07.08.202602:18:29UTC+00China Stocks Mixed as Trade Data Looms

The Shanghai Composite Index slipped 0.3% to 3,890 on Friday, while the Shenzhen Component Index gained 0.6% to 14,195, marking a second consecutive session of mixed trading as investors awaited the release of China’s latest trade data. In June, China recorded its second-largest trade surplus on record, with both exports and imports hitting all-time highs.

Nonetheless, worries over Sino-US trade relations continued to weigh on sentiment after Beijing announced a series of retaliatory measures. These included tighter controls on exports of drones and related technologies, sanctions on seven US companies, and the launch of its first national security investigation linked to foreign trade.

Financial stocks dragged on the broader market, led by declines in Industrial and Commercial Bank of China (-0.9%), Agricultural Bank of China (-0.9%), and China Construction Bank (-1.3%). By contrast, technology-related names advanced, with Zhongji Innolight up 2.8%, Eoptolink Technology rising 3.4%, and NAURA Technology gaining 1.1%.

Despite the day’s mixed performance, both major indices remained on course to post weekly gains.