Chinese markets fall as weak sentiment weighs on stocks

Chinese markets ended lower on Thursday, giving back gains from the previous session. The Shanghai Composite fell 0.67% to close at 3,655.8, while the Shenzhen Component dropped 1.68% to 11,198. Investor sentiment remained weak as the latest measures announced by the People?s Bank of China (PBoC) failed to impress markets.

The PBoC said it would continue with a flexible and targeted monetary policy to keep liquidity comfortable and borrowing conditions supportive. It also promised more support for domestic demand, technology innovation, small businesses and infrastructure projects. However, investors appeared disappointed by the lack of stronger measures to boost economic growth.

Adding to the pressure, concerns over a possible leadership change at Nvidia weighed on sentiment towards AI-related stocks. Among the major losers, Foxconn Industrial Internet fell 4.85%, Zijin Mining Group declined 3.88%, CATL lost 2.70%, BYD dropped 2.10%, and Zhongji Innolight plunged 6.11%.

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