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July 11, 2019

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Stocks end down in cautious trading

China’s A-share markets closed lower yesterday as investors remained cautious, with the benchmark Shanghai index losing ground on the last three trading days.

The benchmark Shanghai Composite Index declined by 0.44 percent, or 12.93 points, to finish at 2,915.30, after sharp falls during the opening and afternoon trading sessions.

The smaller Shenzhen Component Index reversed its gains of the day before it ended down 0.35 percent at 9,166.15 points, while the ChiNext Index dropped 0.48 percent to finish at 1,510.43 points.

The combined turnover of the two bourses came to 331.6 billion yuan (US$48.05 billion), down from the volume of 351.7 billion yuan during the previous trading day. Most sectors suffered losses, with building materials and nonferrous metals companies among the top losers. Shares of Tangshan Jidong Cement Co, the largest cement manufacturer and supplier in the north of China, slumped by 5.32 percent to stand at 18.15 yuan a share.

Boosted by the news that the US will exempt 110 kinds of medical equipment and other Chinese imports from tariffs, pharmaceutical stocks saw strong rallies in the afternoon but fell back again.


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