SHANGHAI: China stocks fell on Friday, and were on track to extend declines to the third consecutive week, as investors stayed cautious amid uncertainties in the Middle East ahead of a local holiday.
Hong Kong market was closed for the Easter holiday.
China’s blue-chip CSI300 Index dropped 0.6% by the lunch break, while the Shanghai Composite Index lost 0.9%.
The index was set to close the week 1.2% lower, extending declines to the third straight week after rallying 23% in 2025.
China’s onshore market will be closed on Monday for the Qingming holiday. Analysts at BOC International said markets have yet to see clear details addressing control of the Strait of Hormuz and the oil supply chain crisis, keeping concerns over crude supplies elevated.
For onshore shares, external volatility is being transmitted mainly through sentiment, while China’s still-low inflation and expectations for a pick-up in nominal prices this year could support domestic demand, the analysts said.
Growth in China’s services activity slowed in March from a 33-month high in February, as softer demand and a decline in overseas orders weighed on momentum, a private-sector survey showed on Friday.
Wuxi Apptec fell nearly 4% and the CSI 300 Health Care Index lost 2.3%, after US President Donald Trump ordered 100% tariffs on certain branded pharma imports and overhauled steel, aluminium and copper duties on Thursday.
Artificial intelligence-related shares were one of the few bright spots, rising 1.3%. Semiconductor stocks firmed 0.1%.
The CSI Energy Index fell 1.5%, despite surging oil prices.‑Reuters
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