The Shanghai Composite Index fell 0.3% to below 4,100, while the Shenzhen Component Index gained 0.3% to around 14,800 on Friday, with mainland stocks showing mixed performances as investors await progress on extending the US-Iran ceasefire. Still, both benchmarks remain on track for a solid second straight weekly gain amid growing optimism over a potential deal to permanently end the conflict. However, the Strait of Hormuz remains effectively closed under a dual blockade, and concerns remain that restoring a meaningful portion of disrupted oil and gas output could take up to two years. In China, the policy outlook remained cautious despite a strong Q1 GDP growth, as supply disruption and high oil prices pose risks to China’s exports. Markets now await the PBOC’s upcoming interest rate decision next week. Among individual stocks, Zhongji Innolight (+5.3%) and Foxconn Industrial (+2.8%) outperformed, while Kweichow Moutai (3.6%) and Contemporary Amperex (-2.2%) led the declines.
