The China stock market has tracked lower in consecutive trading days, sliding more than 20 points or 0.6 percent along the way. The Shanghai Composite Index rests just above the 3,260-point plateau and the market is looking at another soft start again on Friday.
The global forecast for the Asian markets is broadly negative as tensions continue to escalate between North Korea and the United States. The European and U.S. markets were down and the Asian markets are expected to follow suit.
The SCI finished modestly lower on Thursday as losses from the financials and properties were tempered by a mixed performance from the oil and insurance companies.
For the day, the index lost 13.82 points or 0.42 percent to finish at 3,261.75 after trading between 3,236.18 and 3,282.52. The Shenzhen Composite Index fell 12.95 points or 0.69 percent to end at 1,872.60.
Among the actives, Agricultural Bank of China shed 0.27 percent, while Bank of China was unchanged, Industrial and Commercial Bank of China lost 0.36 percent, Vanke fell 0.65 percent, Gemdale skidded 1.77 percent, PetroChina dipped 0.37 percent, China Petroleum and Chemical advanced 0.83 percent, China Life added 0.30 percent, Ping An plummeted 2.55 percent and Zijin Mining was down 0.49 percent.
The lead from Wall Street is weak as stocks moved sharply lower on Thursday as the NASDAQ and S&P 500 fell to their lowest closing levels in a month.
The Dow lost 204.69 points or 0.9 percent to 21,844.01, while the NASDAQ fell 135.46 points or 2.1 percent to 6,216.87 and the S&P dipped 35.81 points or 1.5 percent to 2,438.21.
Geopolitical concerns continued to weigh amid escalating tensions between the U.S. and North Korea. President Trump further ratcheted up the rhetoric, suggesting that his “fire and fury” comments may not have been tough enough.
In economic news, the Labor Department noted an unexpected drop in U.S. producer prices in July, while a separate report showed an uptick in initial jobless claims last week.