China Bourse May Take Further Damage On Thursday

(RTTNews) - The China stock market on Wednesday snapped the three-day winning streak in which it had gained more than 55 points or 1.8 percent. The Shanghai Composite Index now sits just beneath the 3,285-point plateau and the losses may accelerate on Thursday. The global forecast for the Asian markets is mixed to lower after the Federal Reserve downgraded its GDP forecast. The European markets were mixed and the U.S. bourses were mostly in the red and the Asian markets also figure to open lower. The SCI finished modestly lower on Wednesday as losses from the insurance companies were mitigated by support from the financial shares and property stocks. For the day, the index lost 11.76 points or 0.36 percent to finish at 3,283.92 after trading between 3,271.07 and 3,302.46. The Shenzhen Composite Index dropped 20.14 points or 0.91 percent to end at 2,185.22. Among the actives, Industrial and Commercial Bank of China collected 0.41 percent, while China Construction Bank rose 0.16 percent, China Merchants Bank added 0.42 percent, Bank of Communications gained 0.65 percent, China Life Insurance skidded 1.06 percent, Ping An Insurance sank 0.64 percent, PetroChina was up 0.24 percent, China Petroleum and Chemical (Sinopec) gathered 0.51 percent, To keep reading about China Bourse May Take Further Damage On Thursday, Click on the link. Seoul, Korea
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