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Shanghai Composite Index Falls; PetroChina Leads Decline


Wednesday, 5 December 2018 14:41 WIB

The Shanghai Composite IndexSaham Cina CSI 300Shanghai composite


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Chinese stocks closed lower, tracking losses in U.S markets overnight after President Donald Trump called himself 'Tariff Man' and questioned whether a deal with China was possible. China's Ministry of Commerce issued a short statement Wednesday saying the weekend meeting between the two leaders in Buenos Aires was 'very successful,' without adding new details.

The Shanghai Composite Index fell 0.6 percent at 2,649.81 in Shanghai. The move follows the previous session's increase of  0.4 percent.  CSI 300 Index fell  0.5 percent to 3,252 at close.

PetroChina Co. contributed the most to the index decline, decreasing 0.8 percent. Jiangsu Sunrain Solar Energy Co. had the largest drop, falling 10.0 percent.

Today, 1117 of 1489 shares fell, while 333 rose; all sectors were lower, led by conglomerate stocks.

The Chinese yuan weakened against the U.S. dollar to 6.8671 from 6.8360. The benchmark 10-year bond was little changed at 3.330 percent.

The MSCI AC Asia Pacific Index declined 1.1 percent.

Source: Bloomberg


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