Shares finish flat as sluggish pace continues
Print Edition
SHANGHAI stocks closed nearly flat yesterday as sluggish momentum continued.
The Shanghai Composite Index shed 0.04 percent to 2,835.86 points after shares of insurance and securities firms helped the market recoup earlier losses.
“Generally speaking, correction is expected to extend for a while, though in the longer run, market prospects still remain optimistic,” Shenwan Hongyuan Securities wrote in a note.
The brokerage said growing expectations for MSCI, a global provider of financial indexes, to include China’s yuan-denominated A shares in its benchmarks “will relieve pessimism that currently lingers in the stock market and hopefully bring opportunities to investors.” Inclusion in the MSCI emerging markets index is set to attract billions of dollars to the domestic stock market.
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