China's Stocks Flat as Trump Hints at Iran Peace Deal in Islamabad
Chinese shares were muted as investors are cautious over the outcome of a potential second round of negotiations between the U.S. and Iran.The Shanghai Composite Index modestly slipped to cap the week's trade at 4,051.43. Meanwhile, the Shenzhen Component Index added 0.6%, or 89.08 points, to 14,885.42.U.S. President Donald Trump said the deal to end the war with Iran is "very close" as representatives from both countries are expected to meet in Islamabad during the weekend.Israel and Lebanon will also conduct talks after agreeing on a ten-day ceasefire, which became effective on Thursday.In corporate news, SPIC Hydropower (SHA:600292) dropped 4% after announcing that its unit, Wuling Power, plans to acquire equity in seven new energy project companies in China's Hunan Province for 330.5 million yuan.Yonghui Superstores (SHA:601933) jumped 3.5% after posting a 94% year-on-year rise in its first-quarter attributable net profit to 286.9 million yuan.