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China shares ease after c bank raises market rates

Monday, 18 December 2017


China stocks edged lower on Monday, amid concerns over tight year-end liquidity after the central bank lifted interbank market rates.

At 04:07 GMT, the Shanghai Composite index was down 4.13 points or 0.13 per cent at 3,262.01, reports Reuters.

The blue-chip CSI300 index was up 0.02 per cent, with the consumer staples sector up 1.88 per cent, the real estate index down 1.11 per cent and healthcare sub-index down 0.26 per cent.

The smaller Shenzhen index was down 0.52 per cent and the start-up board ChiNext Composite index was weaker by 0.2 per cent.

The largest percentage gainers in the main Shanghai Composite index were Hunan Tyen Machinery Co Ltd up 10.07 per cent, followed by Leshan Electric Power Co Ltd gaining 10.04 per cent and Tianjin Hi-Tech Development Co Ltd up by 10 per cent.

The largest percentage losses in the Shanghai index were Cangzhou Dahua Co Ltd down 10 per cent, followed by Sanjiang Shopping Club Co Ltd losing 7.76 per cent and Hangzhou Silan Microelectronics Co Ltd down 7.76 per cent.

About 6.65 billion shares have traded so far on the Shanghai exchange, roughly 39.9 per cent of the market’s 30-day moving average of 16.65 billion shares a day.