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Chinese shares open lower as the optimism after its initial stimulus starts to fade. Investors are looking for more hints around a fiscal stimulus package and next year's fiscal plan ahead of a highly anticipated government briefing the weekend, which could shape the sustainability of the recent stock market rally. The benchmark Shanghai Composite Index opens 0.4% lower at 3287.87 and Shenzhen Composite Index drops 0.9%. ChiNext Price Index falls 1.8%, with software and semiconductor stocks leading the losses. HiThink RoyalFlush Information Network drops 3.0% andShenzhen Infogem Technologies plunged 18%. Semiconductor Manufacturing International Corp. falls 3.2%. Almost all sectors are lower while some auto stocks are higher. Seres rises 3.7% after the company posted 3Q earnings forecast overnight.
