Global
5 years ago

China share markets decline on weak sentiment

File Photo (Collected)
File Photo (Collected)

Published :

Updated :

China shares fell on Thursday amid investor concerns about lean domestic growth with the country's premier warning of increasing downward pressure.

The Shanghai Composite index touched its lowest in nearly four years.

At the midday break, the Shanghai Composite index was down 51.00 points or 1.99 per cent at 2,510.62, after touching its lowest since Nov. 24, 2014.

Chinese H-shares listed in Hong Kong dropped 0.73 per cent to 10,123.67, while the Hang Seng Index slipped 0.15 per cent to 25,424.27, reports Reuters.

The smaller Shenzhen index slipped 1.67 per cent and the start-up board ChiNext Composite index edged 0.87 per cent lower.

Around the region, MSCI'sAsia ex-Japan stock index was weaker by 0.37 per cent, while Japan's Nikkei index was down 0.75 per cent.

The yuan was quoted at 6.936 per US dollar, 0.18 per cent weaker than the previous close of 6.9235.

The largest percentage gainers in the main Shanghai Composite index were Jiangsu Xinquan Automotive Trim Co Ltd, which gained as much as 10.03 per cent, followed by Wuxi New Hongtai Electrical Technology Co Ltd, which climbed 10.02 per cent and Zhejiang Chenfeng Technology Co Ltd, which rose 10 per cent.

The largest percentage losses in the Shanghai index were Shanghai Lansheng Corp, which slipped as much as 10.03 per cent, followed by Kangmei Pharmaceutical Co Ltd, which lost 10.01 per cent and Geo-Jade Petroleum Corp, which fell 10 per cent.

So far this year, the Shanghai stock index is down 22.54 per cent, while China's H-share index is down 12.9 per cent. Shanghai stocks have declined 9.21 per cent this month.

The top gainers among H-shares were China Gas Holdings Ltd, which gained as much as 4.61 per cent, followed by People's Insurance Group of China Co Ltd, which climbed up to 3.56 per cent and PICC Property and Casualty Co Ltd, which rose 2.76 per cent.

The three biggest H-shares percentage decliners were Great Wall Motor Co Ltd, which fell 3.70 per cent, China Petroleum & Chemical Corp, which lost 3.7 per cent and Dongfeng Motor Group Co Ltd, which slipped 3.2 per cent.

About 7.25 billion shares have traded so far on the Shanghai exchange, roughly 60.8 per cent of the market's 30-day moving average of 11.93 billion shares a day.

The volume traded was 13.00 billion shares, as of last trading day.

Share this news