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China's benchmark index slightly down
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  • http://english.dbw.cn  2017-10-13 09:21:02
     

    China's benchmark Shanghai Composite Index dropped slightly on Thursday, after four days of increases.

    The index edged down 0.06 percent to close at 3,386.1 points. The Shenzhen Component Index closed 0.05 percent lower at 11,307.32 points.

    Turnover on the two bourses shrank to 481.5 billion yuan (about 73.2 billion U.S. dollars) from 568.5 billion yuan on the previous trading day.

    Despite the slight declines, investor confidence has not weakened due to sound market fundamentals, according to Shaanxi Jufeng Invest Info Co.

    In its latest World Economic Outlook, the IMF raised its forecast for China's economic growth in 2017 and 2018 for the fourth time this year, citing the strong performance in H1 and policy support.

    The manufacturing purchasing managers' index for September came in at 52.4, the highest level since May 2012.

    "It is likely that the stock indices will continue to rise after some slight fluctuations," Jufeng said.

    Strong performance of aircraft, steel and financial sub-indices rose 2.72 percent, 0.61 percent and 0.47 percent respectively, helping to keep major indices relatively stable on Thursday.

    AVIC Aircraft Co., rose 4.7 percent to 19.9 yuan. Baoshan Iron & Steel rose 1.24 percent to 7.37 yuan. Industrial and Commercial Bank of China edged up 0.16 percent to 6.21 yuan.

    The ChiNext Index which tracks China's NASDAQ-style board of growth enterprises lost 0.08 percent to close at 1,899.99 points.

    Author:    Source:xinhua    Editor:Yang Fan

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