Chinese shares were mixed on Thursday as the market struggled for direction after the US Federal Reserve trimmed its 2025 rate cut forecast to two from four and amid wide expectations that China will maintain its benchmark lending rates.
The Shanghai Composite Index, the main gauge of Chinese stocks, slipped 0.4% to 3,370.03. The Shenzhen Component Index climbed 0.6% to 10,649.03.
All 27 respondents in a Reuters poll expected China to maintain both the one-year and five-year loan prime rates on Friday.
It seems a "bit inappropriate" to cut interest rates right after the People's Bank of China's recent warning against interest rate risk during bond trading, Reuters cited a trader at a Chinese bank as saying.
In company news, Yonghui Superstores (SHA:601933) divested its about 9.9% stake in Zhongbai Holding Group for 440 million yuan. Shares of the supermarket operator closed 9% lower Thursday.
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