The Shanghai Composite fell 0.2% to below 4,120, while the Shenzhen Component dropped 0.3% to 14,200 on Thursday, extending losses from the previous session as stricter margin requirements kept the recent market rally in check. On Wednesday, Chinese regulators raised the minimum margin for stock financing to 100% from 80%, reinforcing Beijing’s push to curb excess risk in capital markets. Meanwhile, US President Donald Trump approved sales of Nvidia’s H200 AI chips to China, with the US set to claim 25% of proceeds. However, reports emerged that Chinese customs may block the chips. Tech and defense stocks led losses, including Leo Group (-3.1%), BlueFocus Intelligent (-11.7%), Zhongji Innolight (-1.1%) and China Spacesat (-9.5%).
