China stocks fall amid economic worries, US political uncertainty

China stocks

slipped on Wednesday amid lingering worries about the economy and caution over persisting US political uncertainties, as a federal government shutdown and President Donald Trump’s hostile stance towards the Federal Reserve unnerved investors.

The blue-chip CSI300 index fell 0.5 per cent, to 3,002.03, while the Shanghai Composite Index lost 0.3 per cent to 2,498.29 points.

The CSI300 financial sector sub-index was lower by 0.64 per cent, the consumer staples sector down 0.66 per cent, the real estate index down 0.34 per cent and the healthcare sub-index down 0.53 per cent. ** The smaller Shenzhen index ended down 0.42 per cent and the start-up board ChiNext Composite index was weaker by 0.736 per cent.

Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.31 per cent, while Japan’s Nikkei index closed up 0.89 per cent.

At 07:23 GMT, the yuan was quoted at 6.8843 per US dollar, 0.03 per cent firmer than the previous close of 6.8863.

The largest per centage gainers in the main Shanghai Composite index were shares of Changshu Fengfan Power Equipment Co Ltd , up 10.14 per cent, followed by those of Guodian Nanjing Automation Co Ltd, gaining 10.08 per cent and Holsin Engineering Consulting Group Co Ltd’s stock, up by 10.02 per cent.

The largest per centage losers in the Shanghai index were shares of Changyuan Group Ltd, down 10.06 per cent, followed by those of Suzhou Secote Precision Electronic Co Ltd losing 8.47 per cent and Qingdao Topscomm Communication Inc, down by 7.32 per cent.

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