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December 1, 2017

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Shares dip amid weak sentiment

SHANGHAI stocks dipped yesterday, led by drops in property and financial shares.

The Shanghai Composite Index lost 0.62 percent to close at 3,317.19 points.

Shares of property developers, financial firms and infrastructure companies were among the biggest decliners.

Shanghai Jinjiang International Hotels Development Co Ltd tumbled 5.21 percent to 29.85 yuan (US$4.5), Shanghai New Huang Pu Real Estate Co Ltd fell 3.92 percent to 16.90 yuan, and Greenland Holdings Co Ltd declined 3.08 percent to 7.23 yuan.

Investor sentiment was weak after the key market index slumped to a 3-month low on Monday. Sentiment also dimmed after three companies failed to pass an initial public offering vetting by the China Securities Regulatory Commission, said a statement published on its website late Wednesday.


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