Market Overview

Chinese Stock Markets Move Higher

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Chinese stocks were trading higher on Wednesday. The Shanghai Composite Index gained 7.31 points, or 0.23 percent to 3,255.66, while the Shenzhen composite rose 0.12 percent to 551.19.

iShares FTSE/Xinhua China 25 Index (ETF) (NYSEARCA: FXI) shares rose 1.77 percent to close at $36.88 on Tuesday, while SPDR S&P China (ETF) (NYSEARCA: GXC) rose 1.09 percent to close at $76.06.

The Chinese yuan was trading flat against the U.S. dolar at 6.8930.

The Dow Jones Industrial Average gained 0.35 percent, to 19,023.87, the S&P500 index rose 0.22 percent to 2,202.94, and the Nasdaq Composite climbed 0.33 percent to 5,386.35.

Oil prices traded lower on Wednesday, with the US WTI crude futures on the NYMEX dropping 0.19 percent to trade at $47.94 a barrel.

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

  • China Merchants Bank Co Ltd (600036: SHH shares gained 2 percent to 18.74 CNY.
  • Shanghai Pudong Development Bank Co Ltd (600000: SHH) rose 1.9 percent to 17.00 CNY.
  • Industrial Bank Co Ltd (601166: SHH) shares rose 1.8 percent to 16.72 CNY.

 

  • China United Network Communications Ltd (600050: SHH) shares dropped around 2.2 percent to 5.85 CNY.
  • Inner Mongolia BaoTou Steel Union Co Ltd (600010: SHH) dropped 0.7 percent to 2.98 CNY.
  • China Northern Rare Earth Group High-Tech Co Ltd (600111: SHH) fell 0.5 percent to 13.29 CNY.

Posted-In: Chinese stocks Shanghai Composite Index ShenzhenNews Global Markets

 

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