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July 17, 2019

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Stocks retreat as shipbuilding, liquor decline

Chinese equities edged down yesterday, retreating after three sessions of gains.

At close, the Shanghai Composite Index finished down 0.16 percent at 2,937.62 points, the Shenzhen Component Index lost 0.28 percent to end at 9,283.41 and the blue-chip CSI300 index shed 0.45 percent to close at 3,806.84 points.

Turnover on the two major bourses totaled 350 billion yuan (US$50.88 billion), shrinking from 422.4 billion yuan in the previous trading season.

The chemical sector and the communications industry had strong performances. Top losers were shipbuilding, liquor and insurance.

The largest percentage gainers in the main Shanghai Composite index were China Satellite Communications, gaining 10.04 percent, followed by Wutong Holding Group, up 9.95 percent.

Shares of Longxing Chemical hit the daily cap as well. The largest percentage losers in Shanghai were BanBao Co Ltd and Shenzhen Sunxing Light Alloys Materials, both down by over 5 percent.


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