The Shanghai Composite fell 0.51% to 3,878 and the Shenzhen Component dropped 0.78% to 12,955 on Wednesday, extending losses from the previous session as disappointing services activity data deepened economic concerns. A private survey showed that services sector growth slowed to a five-month low in November as new business expansion softened. The property sector also remained under pressure, with China Vanke sliding another 3.7% to its lowest level since 2008 following its surprise bond payment delay. Technology stocks posted sharp declines as well, including Zhongji Innolight (down 3.4%), ZTE Corp (down 4.8%), Sai MicroElectronics (down 19.6%), Victory Giant (down 1.6%) and Luxshare Precision (down 2%). Investors now look ahead to the annual Central Economic Work Conference and the December Politburo meeting for signals on Beijing’s policy direction and growth targets for next year.