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* SSEC -1.3%, CSI300 -1.6%
* Tensions between China and the main Western economies weigh heavily
* China administers 82.85 million doses of COVID-19 vaccine, as of Tuesday
BEIJING / SHANGHAI, March 24 (Reuters) – Chinese stocks fell to their three-month closing low on Wednesday as risk appetite eased amid fears of political tightening and escalating tensions between China and the main Western economies. ** At the close, the blue chip CSI300 was down 1.61% to 4,928.69, the lowest close since December 11, while the Shanghai Composite Index fell 1.3 % at 3,367.06, the weakest close since December 24. decline, the CSI300 resource index fell 4.2%, while the CSI300 transport index lost 4%. The financial sector sub-index fell 1.2%, while the real estate index fell 2.24%.
** The smaller Shenzhen index ended down 1.41% and the startup board’s ChiNext Composite index was 1.25% lower.
** Chinese stocks have been fluctuating lower for some time due to various external factors, but a rebound is expected soon as companies are expected to report strong first quarter results, said Zhang Yanbing, analyst at Zheshang Securities.
** China’s National Health Commission said a total of 82.85 million doses of COVID-19 vaccines were administered on Tuesday. ** Across the region, the MSCI Asia ex-Japan stock index was 1.21% lower, while the Japanese Nikkei index closed 2.04% lower. ** As of 07:14 GMT, the yuan was listed at 6.5237 to the US dollar, 0.12% lower than the previous close of 6.516. ** So far this year, the Shanghai stock index is down 3.1% and the CSI300 has fallen 5.4%, while the Hong Kong-listed Chinese H-share index is in 0.9% increase. Shanghai shares were down 4.05% this month. (Report from the Shanghai Newsroom; edited by Subhranshu Sahu)
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