Chinese stocks fall as global market selloff weighs
The Shanghai Composite dropped 0.79% to 3,811.9, its lowest level in more than two months. The Shenzhen Component fell 2.07% to 12,620.9, hitting a more than ten-month low.
The decline was driven mainly by rising US Treasury yields and concerns over interest rates. Minutes from the Fed?s September meeting showed all 19 policymakers supported the latest rate hike, while most also backed another increase before the end of the year.
Investors are now looking ahead to key Chinese economic data due next week, including inflation and trade figures. Markets will also assess the impact of recent stimulus measures, including mortgage support, increased central bank funding and plans for further policy measures.
Among major decliners, Foxconn Industrial Internet fell 4.31%, Zhongji Innolight dropped 3.15%, China Life Insurance lost 2.07%, and CATL declined 1.50%.
Powered by Capital Market - Live News