Big cap A shares pull key index lower
Print Edition
BIG cap A shares lost steam yesterday and dragged the key Shanghai stock index to close at a half-year low.
The Shanghai composite index shed 1.43 percent, or 47.21 points, to close at 3,262.05, dragged by a 2.7 percent fall in the SSE 50 Index, a gauge of the 50 most valuable companies on the Shanghai exchange.
The SSE 50 gauge surged 26 percent in 2017 to rank as the best performer among China’s major equity indexes.
Banks, insurers, coal and oil producers were among the worst performers on the SSE 50 Index yesterday, with the Industrial and Commercial Bank of China down by 4.35 percent and the Agricultural Bank of China losing 3.36 percent.
Investors did not buy the argument put forward by China Securities News and Securities Times that the fundamentals remained solid and the valuations of blue chips were relatively low compared with other major markets, according to a South China Morning Post report.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
