Stock Price: China Stocks Down at Trade Close
STOCK PRICE – On Thursday, China stocks traded lower at the trade close within the day. Further, this was amid the losses in sectors such as Software & Computer Services, Technology, and Technology Hardware & Equipment that dragged down the shares.
There was a decrease of 0.42% in the Shanghai Composite at the Shanghai close. Further, the SZSE Component index made a loss of 0.93%.
During the Shanghai Composite session, the best performers were Wintime Energy Co Ltd, Hongda, and Fangxing Sci. Wintime Energy Co increased 10.26% or 0.200 points to end at 2.150. On one hand, Hongda gained 10.14% or 0.220 points to trade at 2.390 at the end. Fangxing Sci, on the other hand, surged 10.08% or 0.400 points to 4.370 in late trade.
Meanwhile, the worst performers of the Shanghai Composite session were Leysen Jewellery Inc, DELIXI XINJIANG Transportation Co Ltd, and Zhejiang Huatie Construction Safety Science and Technology Co Ltd. Leysen Jewellery Inc dropped 9.92% or 1.400 points to end at 12.720. On one hand, DELIXI XINJIANG Transportation Co Ltd dove 6.33% or 1.84 points to trade 27.21 at the close. Zhejiang Huatie Construction Safety Science and Technology Co Ltd, on the other hand, hit below 6.10% or 0.320 points to 4.930.
For the SZSE Component session, the best performers were Shaanxi J&R Fire Protection Co, Tianguang Fire-Fighting Co Ltd, and Yinji Entertainment Media Co. Shaanxi J&R Fire Protection Co increased 10.27% to 1.61. On one hand, Tianguang Fire-Fighting Co Ltd traded 10.12% to end at 2.72. Yinji Entertainment Media Co Ltd, on the other hand, added 10.09% trade at 3.60 at the close.
Stock Price: Asian markets surge amid robust US earnings
On Thursday, Asian markets increased amid the surge in the US stocks and the robust strong quarterly earnings from major banks.
As of 11:04 PM ET, both the Shanghai Composite and Shenzhen Component of China increased by 0.5% and 0.1% respectively. The Hang Seng Index of Hong Kong was up 0.4%.
The People’s Bank of China inserted CNY 560 billion into the banking system of the country on Wednesday.
PBOC stated the banking system’s total liquidity is declining rather quickly” as it was the “peak of the tax period.”
Meanwhile, Chinese authorities have announced that it would impose tax cuts. Primarily, this move is to back public spending as well as small businesses.
Further, this move followed after the weaker-than-expected export data and PMI data of China this month.
On Thursday, Huawei Technologies remained in focus following the introduction of US lawmakers about a bill. Moreover, the bill focuses on the possible banning of the sale of US chips to Huawei.
