Media365
The CSI 300 Index of stocks trading on the mainland’s exchanges has dropped 3.1 per cent since the US and Israel began attacks on Iran on February 28, outperforming the S&P 500, the Euro Stoxx 50 and Japan’s Nikkei 225, which have all slid at least 4 per cent during the period.
This marked a turnaround from the previous four oil disruptions from 2011 to 2025, when the CSI 300 fell by an average of 8.4 per cent and underperformed global peers. The S&P 500 was the best performer during these four disruptions, falling by an average of 2.9 per cent.
“There could be very limited disruptions to China’s domestic economy, given its diversified import sources, strategic oil reserves and expanding use of renewables,” said Xiangrong Yu, an analyst at Citigroup. “Given China’s relatively [limited] exposure to the Middle East, Chinese equity markets showed relative resilience. China assets would be a likely beneficiary of such a capital shift.”
