Market Overview

China Markets Slightly Lower; Yuan Slides Against US Dollar

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Chinese stocks were trading slightly lower on Friday. The Shanghai Composite Index dropped 4.7 points, or 0.15 percent to 3,203.79, while the Shenzhen composite fell 0.05 percent to 547.98.

The Chinese yuan dropped against the dollar on Friday. The yuan was trading at 6.89 versus the greenback on Friday.

iShares FTSE/Xinhua China 25 Index (ETF) (NYSEARCA: FXI) shares rose 0.39 percent to close at $35.97 on Thursday, while SPDR S&P China (ETF) (NYSEARCA: GXC) rose 0.71 percent to close at $75.05.

The Dow Jones Industrial Average gained 0.19 percent, to 18,903.82, the S&P500 index rose 0.47 percent to 2,187.12, and the Nasdaq Composite climbed 0.74 percent to 5,333.97.

Oil prices traded lower on Friday, with the US WTI crude futures on the NYMEX dropping 1.11 percent to trade at $45.47 a barrel.

Top market movers among the Shanghai Composite index are as follows:

  • China State Construction Engineering Corp Ltd (601668: SHH) shares gained 3.7 percent to 8.38 CNY.
  • CRRC Corp Ltd (601766: SHH) rose 2.9 percent to 10.23 CNY.
  • SAIC Motor Corp Ltd (600104: SHH) shares rose 1.2 percent to 23.79 CNY.

 

  • Shanghai International Port Group Co Ltd (600018: SHH) shares dropped around 1.3 percent to 5.27 CNY.
  • China Northern Rare Earth Group High-Tech Co Ltd (600111: SHH) dropped 1.1 percent to 13.39 CNY.
  • China United Network Communications Ltd (600050: SHH) fell 1 percent to 5.91 CNY.

Posted-In: Chinese stocks Shanghai Composite Index Shenzhen composite yuanNews Forex Global Markets

 

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