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Chinese stocks decline amid technology sector pressures and airline industry losses
Chinese stocks declined significantly today due to pressures on the technology sector and losses among airlines, with the Shanghai Index dropping 3% to close at 3,764 points, marking a weekly loss of 5.8%. Airlines also warned of combined losses that could reach 9 billion yuan (approximately $1.33 billion) in the first half of the year, due to rising fuel prices and operational costs. The value of the US dollar remained steady against the yuan at 6.7759, amid deteriorating market performance and signs of decline in China's technological sector and overall economy.
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