Chinese stocks edged down Tuesday morning amid a broader weakening of the global equities, as investors were unnerved by the latest geopolitical uncertainties in Europe.

China’s major two stock markets in Shanghai and Shenzhen both slipped by more than one percent Tuesday morning. The benchmark Shanghai Composite Index slipped by 1.3 percent to 3,445.46 points as of 9:56 am, while the Shenzhen Component Index fell by 1.74 percent to 13,241 points. 

The high-tech focused ChiNext board slipped by 1.98 percent to 2,749.16 points. 

China’s A-share markets could not escape a widespread correction as global markets capsized. Futures for the S&P 500 declined almost 1.3 percent Monday, while contracts for the tech-focused Nasdaq 100 fell 1.9 percent and futures for the Dow Jones Industrial Average shed 0.9 percent. US stock markets were closed Monday for Presidents Day. 

European equities STOXX 600 also dropped 1.3 percent overnight to a four-month low, while the Russia's MOEX equity index fell 10.5 percent. 

Meanwhile, global oil prices keep rising, with Brent crude futures surging to their highest levels since September 2014.

Global capital markets plunged due to uncertainty related with the standoff between Russia and Ukraine,sparking increased volatility in A-share markets over recent days. 

The Shanghai market slipped to a periodical low ebb of 3,361 points on January 28 ahead of the Spring Festival holidays. In recent days, it had climbed back  but still lingered at a relatively sluggish state of below 3,500 points.  

Global Times