The Shanghai Composite slipped 0.3% to around 3,840 while the Shenzhen Component lost 0.7% to 13,350 on Friday, snapping a two-day advance after US President Donald Trump announced a 100% tariff on pharmaceutical imports, a 25% levy on heavy trucks and duties of up to 50% on furniture. Profit-taking also weighed on high-flying technology shares amid uncertainty over the sustainability of the artificial intelligence trade, while overall activity was subdued ahead of the National Day holidays. Investors now await industrial profits and PMI data next week for fresh signals on the health of the world’s second-largest economy. Tech firms led the pullback, with notable losses from IEIT Systems (-4.2%), Luxshare Precision (-3.1%), Zhongji Innolight (-3.8%), Victory Giant (-1.8%) and Foxconn Industrial (-4.4%).

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