Beijing: Chinese stocks closed lower on Thursday, with the benchmark Shanghai Composite Index falling by 0.43 percent to settle at 3,295.7 points. The downturn in the Chinese stock market was mirrored in the Shenzhen Component Index, which experienced a more significant decline, closing 1.26 percent lower at 10,432.54 points.
According to Namibia Press Agency, the combined turnover of these two indices amounted to 1.49 trillion yuan, approximately 207.25 billion U.S. dollars. This marked an increase from the 1.46 trillion yuan turnover recorded in the previous trading session. While shares in the supply and marketing cooperatives sector led the gains, stocks related to the gaming and fentanyl sectors suffered broad declines.
The ChiNext Index, which tracks China’s Nasdaq-style board of growth enterprises, also saw a notable drop, losing 1.76 percent to close at 2,169.8 points. The performance of these indices reflects a challenging day for the Chinese market, with multiple sectors experiencing losses.