Chinese shares again fell on Friday to close the week in red, as high oil prices continued to drive investor sentiment down.
The Shanghai Composite Index, the main gauge of Chinese stocks, closed 1.2% lower at 3,888.11. The Shenzhen Component Index fell 1.1% to 13,471.26.
Investor appetite for equities waned as crude prices jumped, with the benchmark Brent crude climbing to $109.20 a barrel on Thursday. The rise followed the sharpest uptick in assaults on Gulf shipping since the U.S.-Israel conflict with Iran began, intensifying traders' fears of further disruptions to supply.
On the domestic front, the 2026 China Business Report published by the American Chamber of Commerce in Shanghai showed that confidence in the next five years among firms operating in China climbed 17 percentage points to 58% in 2026.
New energy vehicles captured a record 60.6% of China's new car market in August, buoyed by enhanced trade-in subsidy programs. Figures from the China Association of Automobile Manufacturers revealed that NEV output and sales each grew nearly 20% year on year, reaching 1.65 million and 1.64 million units, respectively.
In company news, Fujian Highton Development (SHA:603162) signed finance lease agreements with Tianjin Xingfu No. 1 and No. 2 Leasing, covering two multi-purpose heavy-lift vessels with financing of up to 56.9 million yuan and 12-year terms. Shares of the shipping company fell 9% Friday.