Chinese shares closed flat in positive territory on Friday as investors are cautious on the outcome of potential talks between the US and China amid ongoing trade tensions.
The Shanghai Composite Index, the main gauge of Chinese stocks, rose marginally to cap the trading week at 3,510.18. The Shenzhen Component Index added 0.6%, or 64.97 points, to 10,696.10.
US Secretary of State Marco Rubio plans to meet Chinese Foreign Minister Wang Yi at the sidelines of the ASEAN Regional Forum in Malaysia on Friday.
There are hopes that the talks will help mitigate tensions as the US is planning on announcing new tariffs at the expiry of the 90-day tariff reprieve.
In corporate news, China CSSC (SHA:600150) soared 7.4% after forecasting its first-half attributable net profit to surge between 98% and 119% year on year to between 2.8 billion yuan and 3.1 billion yuan.
Fortior Technology (Shenzhen) (HKG:1304, SHA:688279) closed 4.1% after raising HK$2.14 billion in net proceeds from its initial public offering in Hong Kong.
Star Lake Bioscience Zhaoqing Guangdong (SHA:600866) jumped 3.9% as it expects its first-half attributable net profit to climb up to 68% year on year to a range of between 790 million yuan and 850 million yuan.
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