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Shanghai Composite Index Falls; PetroChina Leads Decline


Tuesday, 25 December 2018 14:32 WIB

The Shanghai Composite IndexSaham Cina Shanghai composite


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China stocks pared a drop in the afternoon as the country's state-backed funds were seen buying large caps.

The Shanghai Composite Index fell 2.5 percent in the morning, then pared the drop to 0.9 percent at the close. It ended the day at 2,504.82 in Shanghai.

The index dropped to the lowest closing level since Oct. 18 after the previous session's increase of 0.4 percent.

PetroChina Co. contributed the most to the index decline, decreasing 2.0 percent. Changzhou Tenglong Auto Parts Co. had the largest drop, falling 10.0 percent.

Today, 1,178 of 1,490 shares fell, while 283 rose; all sectors were lower, led by industrial stocks.

Hong Kong’s equities market was closed for the holiday.

The Chinese yuan strengthened against the U.S. dollar to 6.8855 from 6.8991. The benchmark 10-year bond was little changed at 3.320 percent.

The MSCI AC Asia Pacific Index declined 1.9 percent.

Source: Bloomberg


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