Market Overview

Chinese Stock Markets Trade Slightly Lower

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Chinese stocks were trading slightly lower on Friday. The Shanghai Composite Index dropped 3.82 points, or 0.12 percent to 3,237.92, while the Shenzhen composite fell 0.24 percent to 547.54.

iShares FTSE/Xinhua China 25 Index (ETF) (NYSEARCA: FXI) shares fell 0.38 percent to close at $36.74 on Wednesday, while SPDR S&P China (ETF) (NYSEARCA: GXC) dropped 0.47 percent to close at $75.70.

The People’s Bank of China set its yuan midpoint at 6.9168 versus the U.S. dollar, 0.12 per cent down versus Thursday. Onshore yuan was trading at 6.9144 against the dollar in Shanghai.

U.S. markets were closed Thursday for the Thanksgiving holiday. The Dow Jones Industrial Average gained 0.31 percent, to 19,083.18, the S&P500 index rose 0.08 percent to 2,204.72, and the Nasdaq Composite dropped 0.11 percent to 5,380.68.

Oil prices traded lower on Friday, with the US WTI crude futures on the NYMEX dropping 0.08 percent to trade at $47.92 a barrel.

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

  • China State Construction Engineering Corp Ltd (601668: SHH) shares gained 4.1 percent to 9.43 CNY.
  • SAIC Motor Corp Ltd (600104: SHH) rose 1.8 percent to 24.94 CNY.
  • Industrial Bank Co Ltd (601166: SHH) shares rose 1.4 percent to 16.87 CNY.

 

  • Inner Mongolia Yili Industrial Group Co Ltd (600887: SHH) shares dropped around 1.2 percent to 18.68 CNY.
  • China Railway Group Ltd (601390: SHH) dropped 1 percent to 9.19 CNY.
  • Shanghai International Port Group Co Ltd (600018: SHH) fell 1 percent to 5.26 CNY.

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

 

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