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February 14, 2020

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Slight drop in markets

Chinese stocks edged down Thursday, while foreign buying remained robust.

The benchmark Shanghai Composite Index was down 0.71 percent to 2,906.07, while the smaller Shenzhen Component Index declined 0.70 percent to 10,864.32.

Precious metals, fertilizers, agro-chemicals and the agriculture, forestry, animal husbandry and fishery industries were the day’s winners. Shares of Anhui Liuguo Chemical and Jiangsu Changqing Agro-chemical both hit the 10 percent daily limit. Sino-Platinum Metals surged 9.99 percent, and Heilongjiang Agriculture gained 8.84 percent.

Tech shares continue to perform strongly. Photovoltaic and electronic-component companies did well, with Fuzhou Rockchip Electronics, Suzhou Good-ark Electronics and Tongwei all increasing by the daily cap.

Foreign buying in China’s A-share market continues to be strong.

By Wednesday, a total of 67.7 billion yuan (about US$9.7 billion) had been invested through the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect into China’s A-share stock market this year, according to data provider, Wind.




 

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