| Chinese stocks declined on Thursday, with the Shanghai Composite falling 1.39% to 4,007 and the Shenzhen Component dropping 2.02% to 13,902, both hitting multi-week lows.
Investor sentiment was hurt by rising Middle East tensions after Iran targeted a key LNG facility in Qatar, raising concerns about energy supply disruptions. In response, China is expected to tap its strategic oil reserves to stabilize supply in the coming weeks.
Markets also took cues from Wall Street’s overnight losses, as strong US inflation data dampened hopes for interest rate cuts. Major stocks led the decline, with Zijin Mining, Biwin Storage, and Giga Device Semiconductor all posting notable losses. |