China stocks slip as Middle East tensions weigh on sentiment

Chinese stocks closed lower on Tuesday, as rising tensions in the Middle East offset signs of improvement in China?s manufacturing sector.

The Shanghai Composite fell 0.16% to 3,979.9, while the Shenzhen Component dropped 1.02%. Renewed US-Iran strikes raised concerns about shipping disruptions through the Strait of Hormuz, adding pressure to investor sentiment.

Meanwhile, China?s manufacturing data showed some improvement. The private Caixin PMI rose to 51.5 in August from 50.9 in July, beating expectations of 51.0. The official manufacturing PMI also improved to 49.8 from 49.2.

Technology and semiconductor stocks were among the weaker performers. Foxconn Industrial Internet fell 2.93%, SMIC dropped 2.01%, CATL lost 1.50%, and NAURA Technology declined 4.59%.

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