Chinese stocks drift lower, Shanghai index sheds 0.58%

China stocks fell on Thursday as most sectors lost.

The benchmark Shanghai Composite Index eased 0.58 percent to 3,384.98 points at the close, and the Shenzhen Component Index dropped 0.83 percent to 13,772.37 points.

The bluechip index CSI300 shed 0.55 percent. Meanwhile, the tech-heavy ChiNext Composite Index lost 0.90 percent.

The STAR 50 Index, which tracks the 50 biggest and most representative companies listed on the STAR Market for more than six months, tumbled 1.46 percent.

Turnover on the two major bourses totaled 942.2 billion yuan (US$ 137.78 billion).

Most sectors lost, with losing shares outnumbering gainers by 1,195 to 499 on the Shanghai bourse and 1,603 to 628 in Shenzhen.

Bucking the trend, the civil aviation and airport sector gained markedly with share prices in the sector surging 1.52 percent on average, as airline passenger loads continue increasing amid easing coronavirus curbs.

“Overall, the darkest time  for the civil aviation industry is gone as passenger loads are recovering,” according to Essence Securities.

The liquor industry also climbed with share prices in the sector surging 1.79 percent on average thanks to the upcoming Mid-Autumn Festival in October.