Chinese shares opened lower on Thursday, tracking a broad sell-off in global markets after the U.S. Federal Reserve delivered a hawkish interest rate hike under new Chair Kevin Warsh.

The Shanghai Composite Index, the main gauge of Chinese stocks, opened 0.4% lower at 3,877.00. The Shenzhen Component Index dipped 0.4% to 13,409.88.

For the first time since 2023, the Fed raised interest rates by 25 basis points and signaled further increases ahead to combat oil-driven inflation. The hawkish stance triggered a sell-off on Wall Street, dampening risk appetite and weighing on Chinese equities at the open.