China Stock Market May See Renewed Support

(RTTNews) - The China stock market on Wednesday snapped the two-day winning streak in which it had advanced more than 30 points or 1 percent. The Shanghai Composite Index now rests just beneath the 2,885-point plateau although it's tipped to rebound on Thursday. The global forecast for the Asian markets is broadly positive on optimism for economic recovery in the wake of the Covid-19 shutdown. The European and U.S. markets were sharply higher and the Asian markets are tipped to open in similar fashion. The SCI finished modestly lower on Wednesday as losses from the property stocks and oil companies were mitigated by support from the financial shares. For the day, the index lost 14.84 points or 0.51 percent to finish at 2,883.74 after trading between 2,876.18 and 2,896.47. The Shenzhen Composite Index dropped 17.71 points or 0.97 percent to end at 1,805.86. Among the actives, Bank of China collected 0.29 percent, while China Construction Bank added 0.31 percent, China Merchants Bank climbed 1.20 percent, China Life Insurance rose 0.11 percent, Ping An Insurance was up 0.07 percent, PetroChina shed 0.67 percent, China Petroleum and Chemical (Sinopec) fell 0.46 percent, China Shenhua Energy lost 0.73 percent, Gemdale skidded 1.32 percent, The post China Stock Market May See Renewed Support appeared first on Asset Management - How To Asset Manage. Seoul, Korea
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