Chinese markets slip as investors seek stronger policy support

Chinese stocks closed lower on Thursday as investors were disappointed by the latest policy signals from the country?s central bank.

The Shanghai Composite fell 0.50% to close at 3,927, while the Shenzhen Component declined 0.87% to 14,289.4. Both indexes gave up the gains recorded in the previous session.

The People?s Bank of China said it would introduce more measures when needed and make full use of existing policy tools. It also highlighted support for domestic demand, technology innovation and small businesses.

However, the absence of clear details on major monetary easing measures led investors to believe that broad-based stimulus is unlikely in the near term.

Among major decliners, Zijin Mining fell 4.08%, NAURA Technology dropped 2.82%, Luxshare Precision declined 2.25%, while Sinopec slipped 1.19%.

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