BEIJING (dpa-AFX) - The China stock market has finished higher in three straight sessions, gathering more than 20 points or 0.5 percent along the way. The Shanghai Composite Index now sits just above the 3,950-point plateau, although it's likely to run out of steam on Thursday.
The global forecast for the Asian markets is negative on surging crude oil prices and the resulting inflation concerns. The European and U.S. markets were firmly in the red and the Asian markets are expected to open in similar fashion.
The SCI finished modestly higher on Wednesday as gains from the food, energy and medical sectors were capped by weakness from the technology companies.
For the day, the index gained 10.96 points or 0.28 percent to finish at 3,951.51 after trading between 3,933.47 and 3,958.12. The Shenzhen Composite Index eased 0.78 points or 0.03 percent to end at 2,526.15.
The lead from Wall Street is weak as the major averages opened lower on Wednesday and remained under water throughout the trading day, ending near session lows.
The Dow dropped 405.41 points or 0.77 percent to finish at 52,380.66, while the NASDAQ shed 168.07 points or 0.64 percent to end at 26,253.34 and the S&P 500 fell 37.16 points or 0.48 percent to close at 7,636.36.
The continued weakness on Wall Street came amid an extended surge by the price of crude oil, with international benchmark brent crude futures topping $100 a barrel for the first time since July.
The sharp increase in crude oil prices has led to renewed concerns about the outlook for inflation ahead of the Federal Reserve's monetary policy meeting next week.
Crude oil prices surged on Wednesday as the U.S. and Iran continued to trade attacks, dashing hopes for the reopening of the Strait of Hormuz and renewing inflation concerns. West Texas Intermediate crude for October delivery was up $2.98 or 3.20 percent at $96.01 per barrel.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
