The Shanghai Composite Index is expected to extend losses on Thursday after falling 0.49 percent to 3,970.88 in the previous session, marking a third straight decline. Renewed Middle East hostilities drove crude oil prices sharply higher, with West Texas Intermediate crude for August delivery surging 4.49 percent to $73.60 per barrel. Wall Street ended mixed, with the Dow tumbling 576.76 points while the Nasdaq edged up 0.20 percent. China is set to release June consumer and producer price data later today, with annual consumer inflation forecast at 1.1 percent and producer prices expected to rise 4.1 percent.