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July 10, 2019

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China’s A-share markets end mixed

China’s A-share markets posted mixed performance yesterday, with the benchmark Shanghai index extending losses and the other two indices recording slight gains.

The benchmark Shanghai Composite Index edged down by 0.18 percent, or 5.13 points, to finish at 2,928.23 as investors became more risk-averse.

The smaller Shenzhen Component Index reversed losses to end up 0.14 percent at 9,198.79 points, while the ChiNext Index gained 0.74 percent to finish at 1,517.79 points.

The combined turnover of the two bourses came to 351.7 billion yuan (US$50.9 billion), down from the volume of 468.2 billion yuan during the previous trading day.

Over half of the sectors suffered losses, with home-appliance makers, banks and property developers among the top losers. Shares of Zhejiang Kang Sheng Co Ltd, a company with core competitiveness in home appliances, declined by 3.92 percent to stand at 3.43 yuan a share.

Meanwhile, the market was keeping an eye on testimony from Federal Reserve Chair Jerome Powell due today.


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