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SHANGHAI: Stocks in mainland China and Hong Kong gave up earlier gains and slipped on Thursday, weighed by non-ferrous metal shares after gold prices retreated amid easing geopolitical tensions, as US President Donald Trump backed away from new tariff threats.On Wednesday, Trump abruptly stepped back from threats to impose tariffs as leverage to seize Greenland, ruled out the use of force, and suggested that a deal was in sight to end a dispute over the Danish territory that risked the deepest rupture in transatlantic relations in decades.At the midday break, the benchmark Shanghai Composite Index eased 0.15%, while the blue-chip CSI300 Index lost 0.46%.Non-ferrous metal shares led the losses, with a sub-index tracking the sector falling 1.48% at the midday break.Western Region Gold plunged 5.5%.Spot gold was down about 0.8% after scaling a record peak of $4,887.82 in the previous session.Semiconductor shares had a wild ride, with the sub-index surging 2.5% to a record high before finishing morning deals down 1.26%.William Bratton, head of cash equity research for APAC at BNP Paribas Exane, said that though they remained overall positive on Chinese equities in 2026, they preferred “materials, industrials, and technology sectors and sub-industries over their consumer-facing peers – a preference which is reflected in earnings trends and the recent economic data.”Losses also came after the Shanghai and Shenzhen stock exchanges each took regulatory measures over the past week against hundreds of abnormal trading practices, such as price pumping and false orders.The bourses also launched probes into several listed companies over allegedly misleading statements.The measures reflect regulators’ intention to slow the pace of market gains.Britain and China will aim to revive a “golden era” business dialogue when Prime Minister Keir Starmer visits Beijing next week, sources told Reuters, with top company executives from both sides invited to participate.In Hong Kong, the benchmark Hang Seng Index inched lower by 0.1%, while the city’s tech shares fell 0.41%.
