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July 13, 2017

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Home » Business » Finance

Stocks fall for third day in row

SHANGHAI stocks yesterday ended lower for the third consecutive day this week with consumer and healthcare stocks leading the decline while financial shares gained.

The benchmark Shanghai Composite Index closed down 0.17 percent to 3,197.54 points yesterday. Turnover was steady about 205.5 billion yuan (US$30 billion).

Strong gains pushed up heavily weighted banking shares mainly due to their improved profitability, relatively low valuations and solid fundamentals.

China Citic Bank Corp advanced 1.74 percent to 6.43 yuan and Everbright Bank gained 1.24 percent.

Bright Dairy & Food Co was down 1.68 percent to 12.30 yuan and Kweichow Moutai Co lost 1.22 percent amid concerns that profit growth might be unsustainable. Raw materials shares picked up in the afternoon session.


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