The Shanghai Composite fell 0.73% to close at 3,987 while the Shenzhen Component dropped 1.16% to 13,532 on Thursday, with mainland shares retreating from ten-year highs after the Xi-Trump meeting failed to lift sentiment. President Trump said he reached a deal to cut tariffs on China in exchange for Beijing pausing rare earth export controls, resuming US soybean purchases, and tightening oversight on fentanyl trade. China's Ministry of Commerce issued a statement after the market closed, confirming Trump's claims while adding that Beijing will work to resolve TikTok issue and suspend countermeasures against US on ships. Tech and AI-related stocks led the losses as traders took profits, with Eoptolink Technology, Zhongji Innolight, Foxconn Industrial, Victory Giant, and Cambricon Technologies sliding between 1.2% and 7.9%.