The Shenzhen Composite Index dropped 35.22 points or 1.41 percent to close at 2,457.15

The China stock market has moved lower in three straight sessions, slipping more than 50 points or 1.3 percent along the way. The Shanghai Composite Index now sits just above the 3,870-point mark although it may halt its decline on Friday.

The global forecast for the Asian markets suggests mild upside on optimism over earnings news, although weakness from the technology and oil companies may limit the upside.

The SCI finished modestly lower again on Thursday as losses from the property and resource stocks were mitigated by support from the financial sector.

For the day, the index dipped 27.18 points or 0.70 percent to close at 3,873.32 after trading between 3,862.82 and 3,904.96. The Shenzhen Composite Index dropped 35.22 points or 1.41 percent to close at 2,457.15.

Among the actives, Industrial and Commercial Bank of China rose 0.76 percent, while Bank of China jumped 1.24 percent, Agricultural Bank of China surged 1.41 percent, China Merchants Bank declined 0.05 percent, Bank of Communications added 0.68 percent, China Life Insurance added 0.65 percent, Jiangxi Copper dropped 2.85 percent, Aluminum Corp of China (Chalco) declined 2.33 percent, Yankuang Energy shed 0.22 percent, PetroChina advanced 0.62 percent, China Petroleum and Chemical (Sinopec) slipped 0.68 percent, China Shenhua Energy added 0.32 percent, Gemdale slumped 4.52 percent, Poly Developments slid 3.89 percent, China Vanke declined 3.43 percent and Huaneng Power was flat.

In other markets, Europe was up and the U.S. bourses were mostly in the green.

The lead from U.S. stock market is cautiously optimistic as the major averages opened mixed but trended steadily higher as the day progressed.