Key facts
- Shanghai Composite Index fell 1.6% to 3,707.5.
- ChiNext Index dropped 2.9%.
- Over 92% of listed stocks declined.
- Liquor and securities sectors were the only gainers.
Chinese stocks experienced a significant decline on Thursday, with the benchmark Shanghai Composite Index falling 1.6% to 3,707.5 and the tech-heavy ChiNext Index dropping 2.9%. Over 92% of listed companies saw their share prices fall. The selloff was attributed to fears over rising US inflation and potential interest rate hikes, which have spooked global markets. The only sectors to advance were liquor, which gained 1.2%, and securities, up 0.3%.