Shares in the owner of Japanese fashion giant Uniqlo fell almost seven percent on Friday after the company reported a weak quarterly performance in China.

After Thursday's market close, the Uniqlo owner reported a rise in revenue and net profit for the three months ended Nov. 30 but kept its annual guidance unchanged, saying its business in China has been weaker than previously anticipated.

Lithium deposit discoveries in the US and China could reshape the global race for the mineral, which is vital to the green energy transition. One cache, found along the borders of Nevada and Oregon, potentially holds as much as 40 million metric tons of lithium,