The Shanghai Composite fell 0.2% to below 3,980, while the Shenzhen Component dipped 0.05% to 13,525 on Friday, extending losses from the previous session as disappointing manufacturing data weighed on sentiment. Weaker factory activity reflected renewed Sino-US trade tensions, sluggish domestic demand, and a prolonged property downturn. Meanwhile, Presidents Xi and Trump met on Thursday, with Washington agreeing to lower tariffs on Chinese imports and Beijing pledging to curb fentanyl exports, boost US soybean purchases, and suspend rare earth export controls. However, the outcomes were largely expected, offering limited market lift. Profit-taking also pressured mainland shares, with tech and AI-related stocks retreating, including Zhongji Innolight (-4.8%), Eoptolink Technology (-5.4%), Foxconn Industrial (-5.1%), Victory Giant (-6.6%), and Cambricon Technologies (-1.8%).
