The Shanghai Composite edged up 0.12% to close at 4,098 on Thursday, while the Shenzhen Component rose 0.8% to 15,862, trimming earlier losses as most technology and semiconductor stocks posted sharp rebounds. Leading the recovery were Cambricon Technologies (3.84%), SMIC (5.12%), Zhongji Innolight (7.79%), and Eoptolink Technology (3.36%). Meanwhile, investors remained cautious amid persistent uncertainty over potential US-Iran peace talks after Washington reportedly carried out defensive airstrikes on an Iranian military facility, while key issues such as Tehran’s control over the Strait of Hormuz and its nuclear program, remained unresolved. Domestically, concerns over weakening Chinese fuel demand resurfaced as fears of disruptions to oil shipments through the Strait of Hormuz added volatility to energy markets. According to Energy Aspects Ltd., China’s crude oil imports are projected to average 10.9 million barrels per day in 2026, the lowest since 2022.