China stocks decline for third straight week on Mideast jitters

China stocks slipped on Friday, decliningfor the third straight week, as uncertainties in the Middle East reinforced a risk-averse mood ahead of a local holiday. Hong Kong market was closed for the Easter holiday.

China's blue-chip CSI300 Index .CSI300 closed 0.9%lower, while the Shanghai Composite Index .SSEC eased 1%.

The CSI300 Index ended the week 1.4% lower, extending declines to the third straight week.

China's onshore market will be closed on Monday for the Qingming holiday.

Analysts at BOC International said markets have yet to see clear details on control of the Strait of Hormuz or efforts to resolve the oil supply chain crisis, keeping concerns over crude supplies elevated.

For onshore shares, external volatility is being transmitted largely through sentiment, while China's still-low inflation and expectations of a pick-up in nominal prices this year could support domestic demand, the analysts said.

China's services activity growth slowed in March from a 33-month high in February, as softer demand and a decline in overseas orders weighed on momentum, a private-sector survey showed on Friday.

Wuxi Apptec 603259.SS fell nearly 4% and the CSI 300 Health Care Index .CSI000913 lost 1.9%, after U.S. President Donald Trump ordered 100% tariffs on certain branded pharma imports and overhauled steel, aluminium and copper duties on Thursday.

Artificial intelligence-related shares .CSI930713 were one of the few bright spots, rising 0.7%. Semiconductor stocks .CSIH30184 were roughly flat.

The CSI Energy Index .CSIEN fell 1.5%, while the CSI New Energy Index .CSI399808 shed 2.4% despite surging oil prices.

-Shanghai Newsroom/Reuters