China shares may extend losses as Shanghai Composite sits below 3,340

Macro

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China's stock market may open under pressure on Thursday after the Shanghai Composite Index slipped 0.02 percent to 3,339.93, marking its fifth straight session of declines. The Shenzhen Composite Index dipped 0.28 percent to 1,965.45. Among major movers, PetroChina spiked 2.08 percent and Sinopec jumped 1.94 percent, while Huaneng Power tanked 2.69 percent. The soft lead from Wall Street, where the Dow dropped 0.58 percent, and lingering uncertainty over U.S. trade policies are expected to weigh on Asian markets.