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China Stocks Hold Loss After GDP Meets Estimates; Xiaomi Tumbles


Monday, 16 July 2018 09:43 WIB

HANG SENGSaham ChinaShanghai compositeCSI 300 Blue-Chip


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Chinese stocks remained lower after data showed 2Q GDP grew 6.7%, in line with expectations, while Xiaomi dropped after being excluded from a list of stocks eligible for trading via connects with mainland China.

Shanghai Composite Index down 0.6% as of 10:19am local time.

CSI 300 Index also 0.6% lower, ChiNext retreats 0.5%.

Hang Seng Index falls 0.3%, erasing 0.6% gain; Hang Seng China Enterprises Index -0.9%.

Xiaomi, which made its debut in Hong Kong last week, slides as much as 9.6%; China traders barred From buying Xiaomi through Stock Link.

ZTE jumps 10% in Shenzhen and as much as 13% in Hong Kong after U.S.lifts ban.

Haier Electronics jumps 6.6% after Credit Suisse upgrades to buy.

BYD drops as much as 5.1% in H.K. and 6.9% in Shenzhen after reporting faking of seal and staff identity to police.

Beijing Enlight Media falls 6.4%, Zhejiang Huace Film -1.9%, Huayi Brothers Media -1.3% after regulator vows to tighten film industry tax supervision.

Source: Bloomberg


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