INSUBCONTINENT EXCLUSIVE:
SHANGHAI: Chinese stocks ended slightly lower
on Tuesday, as investors paused for breath after strong gains the previous session.
The
blue-chip CSI300 index fell 0.2 per cent to 3,400.17 points, while the Shanghai Composite Index slipped 0.1 per cent to 2,777.98
points.
China's investment growth, already at record lows, may weaken even further in the future and authorities should step up fiscal and
financial measures to give it a boost, the state planner said
on Monday
Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.46 per cent while Japan's
Nikkei index closed up 0.06 per cent
At 0659 GMT, the yuan was quoted at 6.8096 per dollar, 0.09 per cent firmer than the previous close of 6.816
The biggest per centage gainers in the main Shanghai Composite index were Shijiazhuang Kelin Electric Co Ltd, up 10.03 per cent, followed
by SEC Electric Machinery Co Ltd , which gained 10.02 per cent and Huada Automotive Technology Co Ltd, which jumped 10.01 per cent
The largest per centage losses in the Shanghai index were Shangying Global Co Ltd, down 10.02 per cent, followed by Fujian Longma
Environmental Sanitation Equipment Co Ltd, which fell 10.01 per cent, and Jinhua Chunguang Technology Co Ltd, down by 10 per cent
So far this year, the Shanghai stock index is down 16 per cent, the CSI300 has fallen 15.6 per cent and China's H-share index listed in
Hong Kong has slipped 5.3 per cent
Shanghai stocks have declined 3.42 per cent this month.
About 11.87 billion shares were traded on the Shanghai exchange, 88.4 per cent of
the market's 30-day moving average of 13.43 billion shares a day
The volume in the previous trading session was 13.28 billion.
As of 0700 GMT, China's A-shares were trading at a premium of 17.20 per cent
over the Hong Kong-listed H-shares
The Shanghai stock index is below its 50-day moving average and below its 200-day moving average.
The price-to-earnings ratio of the
Shanghai index was 12 as of the last full trading day while the dividend yield was 2.7 per cent
So far this week, the market capitalisation of the Shanghai stock index has risen 1.88 per cent to 29.60 trillion yuan
(Reporting by Shanghai Newsroom)
