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October 14, 2016

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Shares flat on weak export data, yuan worries

SHANGHAI shares closed yesterday generally flat following disappointing export figures in September and yuan depreciation worries, with sectors such as oil producers and financial shares declining.

The Shanghai Composite Index edged up 0.09 percent to 3,061.35 points.

Sinopec shed 0.81 percent to 4.90 yuan (73 US cents). China Pacific Insurance (Group) lost 2.36 percent to 29.80 yuan.

Sentiment was also hit after exports lost 5.6 percent from a year earlier to 1.22 trillion yuan last month in local currency terms, reversing from a 5.9 percent rise in August.

Infrastructure shares rose on hopes state-owned firms would gain from the government’s restructuring plans. China Railway Group rose 4.58 percent.


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