Published on 05/09/2025 at 03:39
(MT Newswires) -- Chinese shares made losses on Friday, cutting a three-day winning streak, as sentiment wavered over the upcoming talks with the US and a drop in China's trade balance in April.
The Shanghai Composite Index slid 0.3%, or 10.00 points, to cap the trading week at 3,342.00. The Shenzhen Component Index fell 0.7%, or 70.83 points, to 10,126.83.
Optimism over the talks between China and the US waned despite US President Donald Trump signaling that some tariffs on Chinese goods may be reduced ahead of the meeting in Switzerland.
US Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer are set to meet with Chinese Vice Premier He Lifeng in the weekend for talks that may mitigate the escalating trade war between the countries.
Compounding the market blow is China's trade surplus in April, which dropped to $96.2 billion from $102.6 billion in March despite strong export growth.
In corporate news, Mubang High-tech (SHA:603398) dropped 5% after the toy distributor was ordered by a court to pay Wuxi Lead Intelligent Equipment (SHE:300450) 42.5 million yuan to settle a sales contract dispute.
Shanghai Lingyun Industries Development (SHA:900957) slumped 5.3% despite its electricity revenue between January and April jumping 27% year on year to 38.9 million yuan.
Gemdale (SHA:600383) fell 3.5% as its contracted sales and contracted sales area in April both dropped 55% year on year.

Sumber : MT Newswires