Chinese shares opened higher on Thursday as oil prices retreated and U.S. President Donald Trump played down the chances of a drawn-out conflict with Iran.
The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.3% to 3,952.80. The Shenzhen Component Index climbed 0.7% to 13,711.07.
Brent crude dipped 0.4% to $95.25 per barrel following Trump's remarks that any future strikes would be brief and again claimed U.S. control over the Strait of Hormuz, Bloomberg News reported. Lower oil boosted bonds, with 10-year Treasury yields slipping to 4.78%.
Edward Jones' Angelo Kourkafas said equities are stabilizing after September's tough start, according to the report. He added that while fundamentals are still constructive and seasonal risks exist, they shouldn't derail the broader uptrend.