BEIJING: Chinese shares finished lower Thursday, swinging wildly in the last hour of trading, and extending a pattern of intraday volatility that started with mid-June’s selloff.
The Shanghai Composite SHCOMP, -2.20% ended down 2.2% at 3705.77, after snapping a three-day losing streak on Wednesday. The index traded as high as 1.5% and as low as 2.7%, or within a 4.2% range. That compares with a range of 4.9% on Tuesday and 9.1% on Monday, when the index suffered its worst daily percentage decline in more than eight years.
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The volatile trading follow authorities’ recent signals to continue supporting the market and steps to investigate sharp declines.
The smaller Shenzhen Composite 399106, -3.21% ended 3.2% lower at 2128.16.
Hong Kong’s Hang Seng Index HSI, -0.49% was down 0.4%, while a gauge of Chinese companies listed in the city was down 2.7%.
Earlier this week, China’s stock regulator said it would continue to support the market, though authorities don’t disclose the pace of buying, or the total amount that they have bought up in stocks.
Officials also are investigating possible coordinated dumping of shares, after earlier this month restricting senior executives and shareholders who own more than a 5% stake from selling for six months.
The securities watchdog has investigated a total of 27 listed firms over share sales in violation of rules in July, according to a report by state-run People’s Daily.
