The Shanghai Composite traded flat near 4,129 on Friday and was poised to finish the week largely unchanged, as mainland stocks struggled for momentum amid uncertainties from the Iran war, which dampened risk sentiment. Defiant rhetoric from leaders in Tehran and Washington indicated that the conflict remains far from de-escalation after nearly two weeks of fighting. Oil prices also surged after Iran’s new supreme leader, Mojtaba Khamenei, pledged to keep the Strait of Hormuz effectively closed while Tehran intensified attacks on regional oil and transport facilities, raising inflation concerns. Still, Chinese stocks held up relatively well, supported by Beijing’s efforts to shield the economy from oil supply shocks through years of investments in renewables and strategic oil reserves. Clean energy shares outperformed on Friday, with gains from Sungrow Power (3%), Goldwind Science (2.3%), and Contemporary Amperex (1.1%).

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