Asia
China Stocks Drop Amid Doubt Over US-Iran Deal
Chinese equities closed with losses as sentiment was dampened by uncertainties surrounding the potential truce between the U.S. and Iran that could end the war, shadowing the positive industrial data.The Shanghai Composite Index lost 1.3%, or 51.65 points, to close Wednesday's trade at 4,093.73. The Shenzhen Component Index slipped 0.9%, or 139.69 points, to 15,736.47.Iran expressed doubt over negotiations being made with the U.S. to end the war, accusing the U.S. military of violating the ceasefire by attacking the Iranian province of Hormozgan. Iranian politician Abbas Moghtadaei's comment was made after Parliament Speaker Mohammad Bagher Ghalibaf returned from Qatar for the talks that could lead to a war-ending deal with the U.S.Meanwhile, the total profits of China's major industrial enterprises between January and April jumped 18% year on year to 2.436 trillion yuan, faster than the 15.5% growth in the previous month, according to data from the National Bureau of Statistics.Henan Yuneng (SHE:001896) dropped 4.9% after receiving a warning from the China Securities Regulatory Commission's Henan Bureau for breaches in disclosure.Goldwind Science & Technology's (SHE:002202, HKG:2208) Shenzhen shares fell 3.7% amid plans to repurchase part of its shares worth between 300 million yuan and 500 million yuan.
Shanghai Composite^SZSEHKG:2208SHE:001896SHE:002202
