The Financial Express

China stocks slips, ChiNext hits record low

Published: December 25, 2017 13:53:20 | Updated: December 27, 2017 12:45:03

File Photo (Collected) File Photo (Collected)

China stocks slipped on Monday, with the start-up board ChiNext posting its biggest decline in three weeks as expectations of tighter monetary polices stirred worries about market liquidity.

At the close, the Shanghai Composite index was down 16.22 points or 0.49 per cent at 3,280.84, according to Reuters.

The blue-chip CSI300 index was down 0.31 per cent, with its financial sector sub-index lower by 0.14 per cent, the consumer staples sector up 0.3 per cent, the real estate index up 1.89 per cent and healthcare sub-index up 0.32 per cent.

The smaller Shenzhen index ended down 0.93 per cent and the start-up board ChiNext Composite index was weaker by 1.32 per cent.

Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.04 per cent while Japan’s Nikkei index closed up 0.16 per cent.

At 07:01 GMT, the yuan was quoted at 6.5545 per US dollar, 0.33 per cent firmer than the previous close of 6.5765.

The largest percentage gainers in the main Shanghai Composite index were First Tractor Co Ltd up 10.07 per cent, followed by Wenyi Suntech Co Ltd gaining 10 per cent and Chifeng Jilong Gold Mining Co Ltd up by 9.97 per cent.

The largest percentage losses in the Shanghai index were Luenmei Quantum Co Ltd down 10 per cent, followed by Anhui Leimingkehua Co Ltd losing 9.97 per cent and Nanjing Textiles Import & Export Corp Ltd down 7.59 per cent.

About 14.69 billion shares were traded on the Shanghai exchange, roughly 92.7 per cent of the market’s 30-day moving average of 15.85 billion shares a day.

The volume in the previous trading session was 12.40 billion.

As of 07:03 GMT, China’s A-shares were trading at a premium of 30.03 per cent over the Hong Kong-listed H-shares.

The Shanghai stock index is below its 50-day moving average and above its 200-day moving average.

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