The Shanghai Composite inched down 0.01% to close at 4,147 on Thursday, ending a two-day rally as losses in new energy and metal stocks dragged on the broader market. The moves followed reports that the Trump administration plans to use a Pentagon-developed artificial intelligence program to help set reference prices for critical minerals. Among clean energy and metal shares, the biggest losers included Contemporary Amperex (-4.5%), Sungrow Power (-5.5%), China Northern Rare Earth (-2.2%), Zijin Mining (-0.7%) and CMOC Group (-1.8%). In contrast, technology shares extended their rebound for a second day, following Wall Street gains amid easing worries about an overheated AI trade. Notable winners included Victory Giant (+7.8%), Suzhou TFC Optical (+8%) and Range Intelligent Computing (+17.7%).