Chinese equities declined Thursday as elevated crude prices intensified inflation concerns across Asian markets. The Shanghai Composite fell 0.5% to 3,932, while the Shenzhen Component dropped 0.5% to 13,657. Oil remained expensive after Iran signaled readiness for a more intense conflict, and US President Donald Trump said the war was unlikely to end before the November midterm elections. In China, annual consumer inflation accelerated in August as higher food and energy prices increased costs, renewing concern about supply disruptions through the Strait of Hormuz amid escalating US-Iran tensions. Foxconn Industrial Internet fell 1.2%, Ping An Insurance dropped 1.8%, CATL declined 1.5%, and Zhongji Innolight slid 1.8%.