China stocks rise as investors shrug off renewed US sanctions threats
Shanghai Composite edged up 0.1% to 3,960 and Shenzhen Component rose 0.5% to 14,122 despite renewed US threats of sanctions over China-Iran ties and a reported 7.5% tariff plan.
The Shanghai Composite edged up 0.1% to 3,960 on Thursday, while the Shenzhen Component rose 0.5% to 14,122, as investors largely brushed aside renewed US threats of sanctions targeting China's ties with Iran.
US President Trump signaled that Chinese banks could face sanctions, while Treasury Secretary Scott Bessent earlier warned that financial institutions involved in facilitating Iranian oil revenues could become targets under Washington's intensified pressure campaign against Tehran.
Meanwhile, reports also emerged that the US is preparing to impose a 7.5% tariff on Chinese goods over alleged industrial overcapacity.
Despite these developments, both the US and China are continuing preparations for Chinese President Xi Jinping's planned visit to the US next month.
Among the top gainers were PetroChina (1.1%), Foxconn Industrial Internet (1.5%), Zhongji Innolight (0.9%), and Huagong Tech (1.3%).