Investors cautious ahead of important meet
Print Edition
Shanghai shares edged down yesterday as investors were cautious ahead of an important meeting of the Communist Party of China.
The Shanghai Composite Index retreated 0.21 percent to end at 2,188.54 points.
Shares climbed after trading opened following news that the United States Congress voted to end a government shutdown and raise the debt ceiling.
Investors were, however, cautious as they waited for the Communist Party of China to convene a meeting, set for November, that may unveil further economic reform measures, according to observers.
Meanwhile around 20 chief analysts working in brokerages said in a survey done by the Shanghai Securities News that China’s macro-economy is “stable but lackluster in performance.”
Shanghai Waigaoqiao Free Trade Zone Development Co dropped 3.46 percent to 44.59 yuan (US$7.31). The shares declined from a peak of 64.16 yuan on September 25.
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