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Shanghai Stocks Down For 5th Day as Credit Risks Weigh


Tuesday, 29 May 2018 15:18 WIB

SahamChina Indeks CSI


c_740_198_16777215_00_images_assets_CHINA_4China-economy.jpg

Shanghai stocks posted a fifth straight session of losses on Tuesday, as investors became concerned about credit risks amid more bond defaults, while Beijing vowed financial stability ahead of shares being included in MSCI’s global benchmark indexes.

The blue-chip CSI300 index fell 0.8 percent to 3,804.01 points, while the Shanghai Composite Index closed down 0.5 percent at 3,120.46 points.

China Energy Reserve & Chemicals Group Co (CERCG) said it failed to repay a $350 million bond that matured earlier this month due to a “tightening in credit conditions”, the latest Chinese company to default amid a crackdown on financial risk.

Source : Reuters


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