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Shanghai stocks retreat from 13-month high on profit-taking


Thursday, 18 April 2019 14:34 WIB

Indeks Shanghai Composite Bursa China


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Shanghai stocks retreated from a 13-month closing high to end lower on Thursday, as investors locked in gains following a strong rally underpinned by signs of an economic rebound.

The blue-chip CSI300 index ended 0.4 percent weaker at 4,072.08 points, while the Shanghai Composite Index closed 0.4 percent lower at 3,250.20 points.

China’s economy grew at a steady 6.4 percent pace in the first quarter, data showed on Wednesday, defying expectations for a further slowdown, as industrial production jumped sharply and consumer demand showed signs of improvement.

The stock market, which has priced in economic stabilisation, has surged roughly 30 percent so far this year. However, investors kept a cautious stance as they looked for further clues on the health of the global economy.

Source: Reuters


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