China stocks extend losses as risk-off mood weighs on markets

Chinese stocks fell further on Wednesday as investors turned cautious amid a broad risk-off mood across Asian markets.

The Shanghai Composite dropped 0.97% to 3,941.4, while the Shenzhen Component fell 1.88% to 13,611.6. Rising oil prices and growing tensions in the Middle East increased concerns about supply disruptions and higher inflation, raising expectations that major central banks may keep interest rates high for longer.

Investors also watched developments between China, Russia and the US. Putin and Xi discussed the possibility of a trilateral meeting with Trump during China?s APEC summit in November, while Xi is expected to visit Washington later this month for talks with Trump.

Energy and technology stocks were among the biggest decliners. PetroChina fell 1.49% and CNOOC dropped 2.14%, while Zhongji Innolight, Eoptolink Technology and Victory Giant Technology lost 4.29%, 4.00% and 3.35%, respectively.

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