The decline followed news that the US Trade Representative proposed new tariffs of up to 12.5% on imports from 60 countries, including China, set to take effect next month. The move was linked to concerns over forced labor in supply chains. Meanwhile, the EU announced the Industrial Accelerator Act and the Cybersecurity Act, measures that could restrict Chinese companies' access to parts of the European market. Beijing warned of retaliation, fueling fears of a broader trade dispute.
Among individual stocks, CATL dropped 4.27%, BYD slipped 1.46%, and Suzhou TFC Optical Communication fell 3.4%. On the upside, GigaDevice Semiconductor surged 7.53% after FTSE Russell confirmed its inclusion in the China index series.
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