The Shanghai Composite fell 0.8% to below 4,070 while the Shenzhen Component dropped 1.2% to 14,100 on Monday, marking a third straight session of declines as Middle East tensions and volatile oil prices weighed on sentiment. The US attacked military targets on Iran’s main oil-export hub of Kharg Island over the weekend, while traders considered reports that the US will soon announce a coalition of countries to escort ships through the Strait of Hormuz. Meanwhile, data showed Chinese industrial production and retail sales exceeded expectations in the first two months of the year, supported by holiday spending and strong foreign demand. However, new home prices fell the most in eight months amid a prolonged property downturn. Notable decliners included Huagong Tech (-4%), Zijin Mining (-5.9%), Power Construction (-8.3%), Suzhou TFC (-6.7%), and China Energy Engineering (-7.8%).
