China stocks open lower after Fed confirms end to QE

Chinese stocks opened slightly lower Thursday, tracking overnight falls on Wall Street after the U.S. Federal Reserve made official its plans to end the quantitative easing (QE) stimulus program.

The benchmark Shanghai Composite Index opened at 2,371.89 points, down 1.14 points, or 0.05 percent. The Shenzhen Component Index edged down 1.7 points, or 0.02 percent, to open at 8,088.98.

The Federal Reserve said Wednesday that it decides to end its monthly asset purchase program, as it "continues to see sufficient underlying strength in the broader economy to support ongoing progress toward maximum employment in a context of price stability."

The Dow Jones Industrial Average lost 31.44 points, or 0.18 percent, to 16,974.31, recovering from a drop of 110 points immediately after the release of the Fed decision. The S&P 500 was down 2.75 points, or 0.14 percent, to 1,982.30. The Nasdaq Composite Index underperformed the other two major indices, down 15.07 points, or 0.33 percent, to 4,549.23.