The Shanghai Composite fell 0.4% to below 3,410 while the Shenzhen Component dropped 1.4% to 11,160 on Wednesday, extending losses from the previous session amid fears that US president-elect Donald Trump's cabinet would include China hawks.
China stocks fall on potential Trump appointees
US Senator Marco Rubio is expected to be appointed as secretary of state, while Governor Kristi Noem is being tapped to head homeland security. Investors also continued to assess the economic outlook in China amid weak data and a disappointing stimulus package. On Friday, China unveiled a 10 trillion yuan debt package aimed at easing local government financing, but it fell short of the direct economic stimulus that investors had hoped for.
Worst performers
Notable losses were seen among major companies, including East Money Information (-1.7%), Ofilm Group (-5.6%), Citic Securities (-3.3%), Anhui Jianghuai (-8.1%), and Tongfu Microelectronics (-5.9%).
