YEREVAN, July 13. /ARKA/. The main indices of the Shanghai and Shenzhen stock exchanges have dropped to a three-month low amid military escalation between the US and Iran, reports TASS citing trading data.
The Shanghai Composite fell by 2.06% (to 3,913.79 points), while the Shenzhen Component decreased by 3.48% (to 14,522.85 points). The blue-chip CSI 300 index dropped by 1.79% (to 4,695.38 points).
Indices of high-tech companies showed significant declines as well. The STAR Composite index fell by 4.36% (to 2,246.33 points), and ChiNext decreased by 3.1% (to 3,723.52 points).
The US and Israel began a war with Iran on February 28. As a result of airstrikes, the supreme leader of Iran, Ali Khamenei, was among those killed. In June, Washington and Tehran signed a memorandum of understanding that provided for an immediate cessation of hostilities on all fronts, including in Lebanon.
Subsequently, negotiations between the US and Iran took place in Switzerland's Bürgenstock, mediated by Doha and Islamabad, to implement the memorandum. As noted in a joint statement by Qatar and Pakistan after the first round, the meeting involving representatives from Iran and the US was held in a positive and constructive atmosphere, achieving encouraging progress, including laying the groundwork for further technical consultations.
However, on the night of July 8, the US resumed large-scale strikes against Iran, accusing it of violating the terms of the agreements reached concerning the Strait of Hormuz.
