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Chinese Stocks Retreat on Dimmer Hopes for US-Iran Truce; Debutant Semight Surges 876%

-- Chinese stocks closed lower on the last trading day of the week as growing tensions in the Middle East dampened investor sentiment.

The Shanghai Composite Index, the main gauge of Chinese stocks, slipped 0.3% or by 13.35 points to 4,079.90. The Shenzhen Component Index fell 0.7% or by 103.15 points to 14,940.30.

Stalled talks between the U.S. and Iran, coupled with Tehran's continued control over the Strait of Hormuz, weakened investor appetite, Reuters reported Friday.

Washington also accused Beijing of stealing intellectual property from U.S. artificial intelligence laboratories on an industrial scale, as shown in a memo shared on social media.

Chinese semiconductor shares finished 2% higher on Friday following the launch of DeepSeek's preview of its V4 model, according to Reuters.

On the corporate front, shares in Eoptolink Technology (SHE:300502) plunged 12% despite posting a 77% rise in its first-quarter profit.

Debutant Semight Instruments (SHA:688808) closed 876% higher during its first trading day Friday. The Chinese manufacturer of electronic measurement instruments and semiconductor test equipment opened at 736.92 yuan, 800% higher or nine times higher than the offering price of 81.88 yuan per share.

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