The Shanghai Composite held above 4,160 on Monday, maintaining last week’s gains as investors prepared for this week’s annual parliamentary meeting, where policymakers are expected to set economic targets and outline policy priorities. China’s annual “Two Sessions” will convene from March 4 to around March 11, during which the government is also expected to release its 15th Five-Year Plan detailing objectives for 2026–2030. Meanwhile, the tech-heavy Shenzhen Component fell 1.4% to around 14,300, reversing last week’s gains and following a global selloff in risk assets amid escalating Middle East tensions. The US and Israel carried out military strikes on Iran over the weekend that resulted in the death of Iran’s Supreme Leader, Ayatollah Ali Khamenei, and the effective closure of the Strait of Hormuz. In corporate news, the chairman of Chinese liquor giant Wuliangye Yibin was placed under detention, though no details about the case were provided.
