China's stock markets declined on Thursday, with the Shanghai Composite Index falling 1.1% to 3,889 and the Shenzhen Component Index dropping 1.4% to 13,606, after two straight sessions of gains. Investors turned cautious amid mixed signals on efforts to ease tensions in the Middle East.
Reports said the US sent a 15-point proposal to Iran via Pakistan to help end the conflict, but uncertainty remained after Iranian state media indicated a negative response and outlined a counterproposal.
At the same time, news that US President Donald Trump is expected to visit Beijing on May 14'15 for talks with Chinese President Xi Jinping added to the uncertain outlook.
Technology stocks led the losses, including Zhongji Innolight (-2.3%), Eoptolink Technology (-4%), and NAURA Technology (-3.9%). Other notable declines came from BYD (-3.3%), Ping An Insurance (-3.4%), and Zijin Mining Group (-3.5%).
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