BEIJING (dpa-AFX) - The China stock market has alternated between positive and negative finishes through the last five trading days since the end of the four-day winning streak in which it had advanced more than 100 points or 2.5 percent. The Shanghai Composite Index now sits just above the 4,175-point plateau although it's likely to move back to the upside again on Friday.
The global forecast for the Asian markets is positive, with technology stocks expected to pull the markets higher. The European and U.S. markets were up and the Asian markets figure to follow that lead.
The SCI finished sharply lower on Thursday following losses from the properties and resource stocks, while the financials came in mixed.
For the day, the index tumbled 64.65 points or 1.52 percent to finish at the daily low of 4,177.92 after peaking at 4,258.86. The Shenzhen Composite Index plunged 62.08 points or 2.11 percent to end at 2,886.99.
Among the actives, Industrial and Commercial Bank of China advanced 0.97 percent, while Bank of China gained 0.70 percent, Agricultural Bank of China jumped 1.50 percent, China Merchants Bank eased 0.18 percent, Bank of Communications collected 0.75 percent, China Life Insurance slumped 1.34 percent, Jiangxi Copper crashed 3.32 percent, Aluminum Corp of China (Chalco) stumbled 2.19 percent, Yankuang Energy declined 2.17 percent, PetroChina climbed 1.17 percent, China Petroleum and Chemical (Sinopec) fell 0.39 percent, Huaneng Power retreated 2.21 percent, China Shenhua Energy improved 0.83 percent, Gemdale plunged 3.62 percent, Poly Developments tumbled 2.92 percent and China Vanke cratered 3.01 percent.
The lead from Wall Street is upbeat as the major averages opened higher on Thursday and remained in the green throughout the trading day, ending near session highs.
The Dow jumped 370.26 points or 0.75 percent to finish at 50,063.46, while the NASDAQ rallied 232.88 points or 0.88 percent to end at a record 26,635.22 and the S&P 500 gained 56.99 points or 0.77 percent to close at 7,501.24, also a record.
Cisco Systems (CSCO) helped lead the markets higher after the company reported better than expected fiscal third quarter results and provided upbeat guidance.
Market leader and AI darling Nvidia (NVDA) also surged on reports that the U.S. has cleared around 10 Chinese firms to buy the company's second-most powerful AI chip, the H200.
In economic news, the Commerce Department said retail sales in the U.S. increased in line with estimates in April. Also, the Labor Department said first-time claims for U.S. unemployment benefits rose more than expected last week.
Crude oil prices inched higher on Thursday as the Strait of Hormuz remains effectively shut amid a lack of progress in U.S.-Iran peace efforts. West Texas Intermediate crude for June was up $0.29 or 0.29 percent at $101.31 per barrel.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
