China's Stocks Muted Over Fresh Blows Between US, Iran
China's shares were flat, leaning in negative territory, at the closing of the trading week as global sentiment slumped over the U.S. and Iran trading fire despite the ceasefire.The Shanghai Composite Index marginally slipped to cap Friday's trade at 4,179.95. The Shenzhen Component Index dropped 0.5%, or 78.09 points, to 15,563.80.U.S. President Donald Trump said the ceasefire is still in effect despite trading blows with Iran. Tehran claimed the U.S. forces targeted civilian areas, while the U.S. said its forces hit Iranian military facilities that attacked its warships in the Strait of Hormuz.In corporate news, Geo-Jade Petroleum (SHA:600759) dropped 5% as its controlling shareholder, Guangxi Zhenghe Industrial Group, faces bankruptcy.Suzhou Zelgen Biopharmaceuticals (SHA:688266) fell 3% despite the third phase trial for recombinant human thyrotropin alfa for injection reaching the primary endpoint in differentiated thyroid cancer patients without distant metastases.
