SHANGHAI: Shanghai stocks closed lower on Tuesday, with defence stocks leading the losses, as markets reversed morning session’s gains from upbeat signs positive signs in talks between US President Biden and Chinese leader Xi Jinping.
The blue-chip CSI300 index was unchanged at 4,883.32, while the Shanghai Composite Index lost 0.3% to 3,521.79 points.
US President Joe Biden and Chinese leader Xi Jinping stressed their responsibility to the world to avoid conflict as the heads of the two top global economies gathered for hours of talks on Monday.
Investors had expected the summit to help stabilize China-US ties by opening negotiations over the conflicting areas.
The defence sub-index dropped 3.9% amid easing tensions between US and China in the meeting.
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