Markets

China stocks end slightly lower, investors take breather

SHANGHAI: Chinese stocks ended slightly lower on Tuesday, as investors paused for breath after strong gains the previous session.

The blue-chip CSI300 index fell 0.2 per cent to 3,400.17 points, while the Shanghai Composite Index slipped 0.1 per cent to 2,777.98 points.

China's investment growth, already at record lows, may weaken even further in the future and authorities should step up fiscal and financial measures to give it a boost, the state planner said on Monday.

Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.46 per cent while Japan's Nikkei index closed up 0.06 per cent.

At 0659 GMT, the yuan was quoted at 6.8096 per dollar, 0.09 per cent firmer than the previous close of 6.816.

The biggest per centage gainers in the main Shanghai Composite index were Shijiazhuang Kelin Electric Co Ltd, up 10.03 per cent, followed by SEC Electric Machinery Co Ltd , which gained 10.02 per cent and Huada Automotive Technology Co Ltd, which jumped 10.01 per cent.

The largest per centage losses in the Shanghai index were Shangying Global Co Ltd, down 10.02 per cent, followed by Fujian Longma Environmental Sanitation Equipment Co Ltd, which fell 10.01 per cent, and Jinhua Chunguang Technology Co Ltd, down by 10 per cent.

So far this year, the Shanghai stock index is down 16 per cent, the CSI300 has fallen 15.6 per cent and China's H-share index listed in Hong Kong has slipped 5.3 per cent. Shanghai stocks have declined 3.42 per cent this month.

About 11.87 billion shares were traded on the Shanghai exchange, 88.4 per cent of the market's 30-day moving average of 13.43 billion shares a day. The volume in the previous trading session was 13.28 billion.

As of 0700 GMT, China's A-shares were trading at a premium of 17.20 per cent over the Hong Kong-listed H-shares.

The Shanghai stock index is below its 50-day moving average and below its 200-day moving average.

The price-to-earnings ratio of the Shanghai index was 12 as of the last full trading day while the dividend yield was 2.7 per cent.

So far this week, the market capitalisation of the Shanghai stock index has risen 1.88 per cent to 29.60 trillion yuan. (Reporting by Shanghai Newsroom)

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