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Markets

China Shares May See Renewed Support On Friday

April 09, 2026 — 09:02 pm EDT

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(RTTNews) - The China stock market on Thursday snapped the two-day winning streak in which it had rallied more than 110 points or 2.8 percent. The Shanghai Composite Index now sits just beneath the 3,970-point plateau although it's expected to open to the upside on Friday.

The global forecast for the Asian markets comes on cautious optimism for easing hostilities in the Middle East. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The SCI finished modestly lower on Thursday following losses from the financial shares and property stocks, while the resource companies were mixed.

For the day, the index shed 28.83 points or 0.72 percent to finish at 3,966.17 after trading between 3,955.25 and 3,979.13. The Shenzhen Composite Index lost 15.91 points or 0.61 percent to end at 2,612.01.

Among the actives, Industrial and Commercial Bank of China collected 0.14 percent, Bank of China slumped 0.87 percent. Agricultural Bank of China slipped 0.45 percent, China Merchants Bank sank 0.91 percent, Bank of Communications skidded 1.01 percent, China Life Insurance stumbled 1.99 percent, Jiangxi Copper retreated 1.29 percent, Aluminum Corp of China (Chalco) soared 4.42 percent, Yankuang Energy lost 0.47 percent, PetroChina climbed 1.00 percent, China Petroleum and Chemical (Sinopec) dropped 0.85 percent, Huaneng Power shed 0.44 percent, China Shenhua Energy perked 0.06 percent, Poly Developments tanked 2.28 percent, China Vanke tumbled 2.03 percent and Gemdale was unchanged.

The lead from Wall Street ends up positive as the major averages shook off early weakness on Thursday to climb solidly up into the green by midday.

The Dow jumped 275.88 points or 0.58 percent to finish at 48,185.80, while the NASDAQ rallied 187.42 points or 0.83 percent to end at 22,822.42 and the S&P 500 gained 41.85 points or 0.62 percent to close at 6,824.66.

The early weakness came amid concerns about the fragility of the ceasefire in the Middle East, with Iran accusing the U.S. and Israel of violating the agreement.

Iran's deputy foreign minister Saeed Khatibzadeh claimed in an interview with the BBC that Iran had once again closed the Strait of Hormuz.

However, stocks rebounded after Israeli Prime Minister Benjamin Netanyahu said Israel would begin negotiating with Lebanon "as soon as possible."

Crude oil prices soared on Thursday as Iran allowed only restricted naval traffic through the Strait of Hormuz, renewing supply disruption concerns. West Texas Intermediate crude for May delivery was up $3.25 or 3.44 percent at $97.66 per barrel.

Closer to home, China will provide March numbers for consumer and producer prices later this morning. CPI is expected to rise 1.2 percent on year, easing from 1.3 percent in February, while producer prices are tipped to add an annual 0.5 percent after slipping 0.9 percent a month earlier.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.