BEIJING: Before the discharge of industrial output data, China stocks are volatile. Technology shares rallied,whereas airlines and shipping companies slumped.
Neusoft Corp. leds gains for technology companies after it said Goldman Sachs Group Inc., Hony Capital and other investors agreed to invest in its health-care businesses. China Eastern Airlines Co. and Cosco Shipping Co. slumped at least 2 percent after rallying 10 percent yesterday on lower oil prices. Data later today will show industrial production probably expanded 7.5 percent last month, according to estimates compiled by Bloomberg, slowing from October’s 7.7 percent gain.
The Shanghai Composite Index (SHCOMP) were little changed at 2,925.88 at 1:05 p.m. The index has climbed 17 percent in the past month amid speculation the central bank will lower reserve-requirement ratios to support an economy heading for its weakest annual expansion since 1990. A report earlier this week showed inflation slowing more than forecast. China cut its growth target for next year at the end of a policy-setting meeting, China Business News reported.
“Stocks will be consolidating as we had rallied for a while,” said Zhang Haidong, an analyst at Tebon Securities Co. in Shanghai. “The weak economy gives rise to expectations of more rate cuts next year. That’s good. But in the short term, stocks have surged too much so some investors will be staying away to avoid risks.”
China’s state media is turning from pushing stocks to warning about risks from a share rally that has been spurred by the increased use of leverage. A stock market that has sharp increases and declines is not a healthy one and is very worrying if it relies on leverage to create a miracle, the official Xinhua News Agency said in a commentary today.
shanghai shares start week with losses 25 june 2018
Hong Kong, (UrduPoint / Pakistan Point News - 25th Jun, 2018 ) :Hong Kong and mainland Chinese stocks fell on...
