SHANGHAI: China stocks ended lower on Thursday, tracking a sell-off in global equities after Russia invaded Ukraine with strikes on major cities.
The blue-chip CSI300 index fell 2% to 4,529.32, while the Shanghai Composite Index lost 1.7% to 3,429.96.
** Russian forces fired missiles at several Ukrainian cities and landed troops on its south coast on Thursday, officials and media said, after President Vladimir Putin authorised what he called a special military operation in the east.
** China reiterated a call for all parties involved in the situation in Ukraine to exercise restraint and rejected a foreign journalist's description of Russia's actions as an invasion.
China stocks fall, Hong Kong slumps most in five months on Ukraine crisis
** "Asian stock markets generally recorded significant losses today, and the worsening situation in Ukraine further impacted financial markets," said Kenny Ng, a securities strategist at China Everbright Securities International.
** China will keep the real estate market stable and step up coordination and precision of property policies this year, the country's housing minister said.
** The real estate subindex eased 1.5%, while the financial subindex retreated 2%.
** Consumer staples slid 2.7%, while information technology stocks dropped 2.2%.
** Oil stocks rose against a broader market slump on global supply concerns, with China Oilfield Services and PetroChina up 8.8% and 4.2%, respectively.
** "The simple strategy is to bet on a spike in inflation, that means buying oil and agricultural products," said Yuan Yuwei, partner at Water Wisdom Asset Management in Hang Zhou. "China will likely boost support to sectors, such as agriculture, semiconductors and new energy."
** Coal miners ended 1.2% lower. China said on Thursday it has set price guide for benchmark thermal coal to cool rally.
** The escalating geopolitical tensions sent the defence subindex 0.8% higher.
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