China's Stock Slump Over Ongoing Middle East Tensions, Stimulus

Jiangsu High Hope International Group's chief financial officer, Sheng Xiangwei, resigned due to a job reassignment, according to a Thursday filing on the Shanghai bourse.

The board of directors will conduct an election to name Sheng's successor, the Chinese industrial supplies company said.

The stock dropped 3% in recent trade.

China has issued rare earth magnet export permits to at least four producers, signaling a partial easing of last month's export curbs, Reuters reported Wednesday.

Baotou Tianhe Magnetics secured a license for Volkswagen, sources said, after the automaker lobbied Beijing, according to the report.

Zhongke Sanhuan, Baotou INST Magnetic New Material , and Earth-Panda Advanced Magnetic Material also received permits, mostly for clients in Europe and Vietnam, Reuters wrote.

The move comes days after a US-China trade truce.

Jiangsu High Hope International Group made an impairment provision of 2.7 million yuan after Dongze Shipbuilding, a debtor of subsidiary Kaiyuan Shipbuilding, was granted bankruptcy restructuring approval by Nanjing authorities.

Kaiyuan Shipbuilding holds a secured claim of 136.5 million yuan against Dongze Shipbuilding, stemming from maritime contract disputes, according to a Monday filing with the Shanghai bourse.

The final recovery amount remains uncertain pending restructuring outcomes.

Jiangsu High Hope International Group shares were down 10% in recent trade.

Jiangsu High Hope International Group approved a one-year extension for subsidiary Huihong Venture Capital's investment in the Huijing Yongkang Fund.

The fund was established to support a public-private partnership hospital project in Nanjing, China.

The extension aligns with the delayed construction timeline of the fourth affiliated hospital of the Nanjing Medical University project.

This article was automatically generated by Dow Jones using technology from Automated Insights.

Stocks in Greater China were mixed on Wednesday.

Hong Kong's Hang Seng Index rose 0.2% to 19261.23, and China's Shanghai Composite Index slipped 0.4% to 3227.12. The Taiwan Taiex index fell 1.2% to 22514.57.

Among Hang Seng constituents, Zijin Mining Group Co. Ltd. posted the largest decline, dropping 5.9%, followed by shares of Li Auto Inc., which fell 3.2%. Shares of WuXi AppTec Co. Ltd. fell 3.1%.

Semiconductor Manufacturing International Corp. was the biggest gainer among companies on the Hang Seng, surging 5.7%, and Xinyi Solar Holdings Ltd. gained 4.4%. Netease Inc. rounded out the top three movers on Wednesday, as shares gained 4.0%.

Among large mainland China stocks, Jiangsu Cowin Biotech Co. Ltd. A posted the largest decline, dropping 19%, followed by shares of Shandong Cynda Chemical Co. Ltd. A, which dropped 10%. Shares of Harbin Air Conditioning Co. Ltd. A dropped 10%.

Jiangsu High Hope International Group Corp. A was the biggest gainer during the session, surging 10%, and Shaanxi Construction Machinery Co. Ltd. A surged 10%. China Tourism & Culture Investment Co. Ltd. A rounded out the top three movers on Wednesday, as shares surged 10%.

In Taiwan, Cosmo Electronics Corp. posted the biggest decline among large companies, dropping 9.9%, followed by shares of Capital Securities Corp., which dropped 7.4%. Shares of Bizlink Holding Inc. dropped 7.2%.

Hwang Chang General Contractor Co. Ltd. was the biggest gainer among large Taiwan companies during the session, surging 10%, and Yieh Hsing Enterprise Co. Ltd. surged 10% USI Corp. rounded out the top three movers, as shares surged 9.8%.

On the currency front, the onshore yuan held steady against the U.S. dollar at CNY7.33 while the New Taiwan dollar weakened 0.2% against the U.S. dollar at NT$33.04.

Data source: Dow Jones Market Data, FactSet