The Shangai Composite Index Closes 1.01% Lower

The Shangai Composite Index decreased 40 points or 1.01 percent on Wednesday to close at 3940 points. The decline was led by Hengli Petrochemical (-4.23%), Yonghui Superstore (-3.35%) and China Molybdenum (-3.25%).

The Shanghai Composite fell 0.97% to close at 3,941.4 on Wednesday, while the Shenzhen Component declined 1.88% to 13,611.6, extending the previous session's losses as a broad risk-off sentiment swept through Asian markets. Investor appetite was dampened by a renewed surge in oil prices, with escalating tensions in the Middle East stoking concerns over potential supply disruptions, adding to global inflationary pressures and reinforcing expectations that major central banks could maintain tighter monetary settings for longer. Meanwhile, Putin and Xi discussed a potential trilateral meeting with Trump during China's APEC summit in November, while Xi is also set to visit Washington later this month for talks with the US president. Energy stocks came under pressure, particularly PetroChina (-1.49%) and CNOOC (-2.14%), alongside tech stocks including Zhongji Innolight (-4.29%), Eoptolink Technology (-4.0%), and Victory Giant Technology (-3.35%).

The Shangai Composite Index fell 7 points or 0.17 percent on Tuesday to close at 3980 points. Leading the losses are China Coal (-4.94%), Shaanxi Coal (-3.16%) and Poly Real Estate (-1.41%). Top gainers were Yonghui Superstore (6.17%), Shanghai International Port (5.70%) and China Pacific Insu (3.59%).