The Shanghai Composite edged up 0.2% to 4,036 on Monday, while the Shenzhen Component dropped 0.3% to 15,729, following sharp losses in the previous week, as renewed US-Iran tensions threatened a recently brokered interim peace agreement and dampened risk appetite. Over the weekend, Iran carried out drone and missile strikes against Bahrain and Kuwait in response to fresh US attacks on targets in southern Iran. Uncertainty persisted despite both countries agreeing to cease hostilities and resume talks on security in the Strait of Hormuz. On the domestic front, investors remained focused on China’s upcoming PMI data later this week for further clues about the world’s second-largest economy. Financial stocks weighed on the market, particularly Industrial and Commercial Bank of China (-0.8%) and Agricultural Bank of China (-2.3%). In contrast, a few technology shares outperformed, including NAURA Technology (4.8%), Huagong Tech (10%), and Chaozhou Three-Circle (12.3%).

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