China stocks extend losses as Middle East tensions hurt sentiment

Chinese stock markets fell for a third straight session on Wednesday, with the Shanghai Composite slipping 0.49% to around 3,970.9 and the Shenzhen Component dropping 1.87% to 14,939.7. Both indexes closed at their lowest levels in about a month as rising tensions in the Middle East reduced investors' willingness to take risks across Asian markets.

Market sentiment weakened after the US increased pressure on Iran by launching new airstrikes and ending a sanctions waiver that had allowed Iran to export oil. The move raised concerns about the future of the temporary agreement reached between the US and Iran on June 17 and created uncertainty over ongoing talks to secure a longer-term peace deal.

Among individual stocks, Zijin Mining Group, Giga Device Semiconductor, CITIC Securities, CATL, Luxshare Precision Industry, and Huagong Tech all ended the day lower.

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