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In mainland China, the Shanghai Composite Index lost 1.6 percent to 2,071.51, while the Shenzhen Composite Index lost 2.3 percent to 831.71.

On Thursday, China’s weeklong Communist Party congress began — the once-in-a-decade forum to name China’s top leadership. Markets are looking for hints on how the new leadership plans to tackle the nation’s economic slowdown.

In the oil markets, benchmark oil for December delivery was up 92 cents to $85.36 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell $4.27 amid the turmoil on Wednesday.