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China Stocks Largely Steady, Techs Sold Amid ZTE Woes


Monday, 23 April 2018 14:46 WIB

SahamChinaIndeks Shanghai CompositeCSI 300 Blue-Chip


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China’s major stock indexes ended little changed on Monday, though tech firms were sold amid ZTE woes.

The blue-chip CSI300 index ended up 0.2 percent at 3,766.33 points, while the Shanghai Composite Index slipped 0.1 percent to 3,068.01 points.

All eyes were on China’s ZTE, which is seeking a resolution to a U.S. ban on selling it parts and software that it has said threatens its survival. The ZTE ban raised worries over escalating China-U.S. trade tensions regarding tech sectors,” Chen Guo, analyst, Essence Securities, said in a note. A dozens of fund managers have already cut the valuations of ZTE shares by more than 20 percent, with some even flagging a 30 percent cut.

Source : Reuters


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