Market Overview

China Stocks Edge Lower Following Trade Data

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Chinese stocks were trading slightly lower on Thursday. The Shanghai Composite Index dropped 2.03 points, or 0.06 percent to 3,220.21, while the Shenzhen composite fell 0.09 percent to 541.28.

China’s trade balance came in at CNY298.111 billion for November, versus expectations of CNY 320 billion. Exports rose 5.9 percent year-over-year, while imports surged 13.0 percent year-over-year.

China's foreign exchange reserves declined more than expected by $69.06 billion (£54.6 billion) in November.

iShares FTSE/Xinhua China 25 Index (ETF) (NYSEARCA: FXI) shares gained 1.15 percent to close at $37.69 on Wednesday, while SPDR S&P China (ETF) (NYSEARCA: GXC) rose 1.05 percent to close at $76.65.

The People’s Bank of China set its yuan midpoint at 6.8731 versus the U.S. dollar, up 77 basis points from Wednesday. Onshore yuan in Shanghai was trading at 6.8648 versus the U.S. dollar, up 0.24 percent from Monday’s close.

The Dow Jones Industrial Average gained 1.55 percent, to 19,549.62, the S&P500 index rose 1.32 percent to 2,241.35, and the Nasdaq Composite gained 1.14 percent to 5,393.76.

Oil prices traded higher on Thursday, with the US WTI crude futures on the NYMEX gaining 0.28 percent to trade at $49.91 a barrel.

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

  • China United Network Communications Ltd (600050: SHH) shares gained 5.8 percent to 6.94 CNY.
  • Kweichow Moutai Co Ltd (600519: SHH) rose 2.7 percent to 336.13 CNY.
  • SAIC Motor Corp Ltd (600104: SHH) shares rose 1.5 percent to 24.84 CNY.


  • CRRC Corp Ltd (601766: SHH) shares dropped around 1.5 percent to 10.52 CNY.
  • China Railway Group Ltd (601390: SHH) dropped 1.2 percent to 8.96 CNY.
  • China Shipbuilding Industry Co Ltd (601989: SHH) fell 1.2 percent to 7.56 CNY.

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


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