China stocks fall as oil prices and US yields rise

Chinese stocks ended lower on Friday, with the Shanghai Composite falling 1.18% to 3,888.1, its lowest level in two weeks. The Shenzhen Component dropped 1.08% to 13,471.3, marking its lowest level in more than a month.

Investor sentiment was hurt by higher oil prices and rising US Treasury yields. Oil prices stayed elevated after Trump said he did not expect the Iran war to end before the November midterm elections, adding to concerns that crude prices could remain high.

Among the major decliners, Zijin Mining Group fell 5.42%, CMOC Group dropped 4.52%, East Money Information lost 3.48%, and CATL declined 2.23%.

For the week, the Shanghai Composite fell 1.07%, while the Shenzhen Component slipped 0.34%.

Investors will now focus on key Chinese economic data due next week, including house prices, fixed-asset investment, industrial output, retail sales and the unemployment rate.

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