Highlights

Good Articles to Share

Author: Tan KW   |   Latest post: Mon, 20 May 2019, 12:08 AM

 

Shanghai stocks retreat from 13-month high on profit taking

Author:   |    Publish date:


SHANGHAI: Shanghai stocks retreated from a 13-month closing high to end lower on Thursday, as investors locked in gains following a strong rally underpinned by signs of an economic rebound.
 
The blue-chip CSI300 index ended 0.4 percent weaker at 4,072.08 points, while the Shanghai Composite Index closed 0.4 percent lower at 3,250.20 points.
 
China's economy grew at a steady 6.4 percent pace in the first quarter, data showed on Wednesday, defying expectations for a further slowdown, as industrial production jumped sharply and consumer demand showed signs of improvement.
 
The stock market, which has priced in economic stabilisation, has surged roughly 30 percent so far this year. However, investors kept a cautious stance as they looked for further clues on the health of the global economy.
 
"Stocks have risen a lot this year. However, there's no need to worry, because it's just recouping last year's losses, and we think there's still room to rise," said Louis So, co-chief investment officer of Value Partners Group, citing signs of economic recovery, relatively low valuations, and continuous foreign money inflows.
 
Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.4 percent, while Japan's Nikkei index closed down 0.84 percent.
 
In Shanghai, Shanghai stocks retreated from a 13-month closing high to end lower on Thursday, as investors locked in gains following a strong rally underpinned by signs of an economic rebound.
 
 The blue-chip CSI300 index ended 0.4 percent weaker at 4,072.08 points, while the Shanghai Composite Index closed 0.4 percent lower at 3,250.20 points.
 
 China’s economy grew at a steady 6.4 percent pace in the first quarter, data showed on Wednesday, defying expectations for a further slowdown, as industrial production jumped sharply and consumer demand showed signs of improvement.
 
 The stock market, which has priced in economic stabilisation, has surged roughly 30 percent so far this year.
 
However, investors kept a cautious stance as they looked for further clues on the health of the global economy.
 
In Seoul, South Korean shares slumped 1.4 percent on Thursday as foreign investors and local institutions trimmed their equity exposure amid intensifying trade frictions. The won and the benchmark bond yield fell after the central bank cut its 2019 growth forecast further to a seven-year low.
 
The main KOSPI stock index closed down 32.12 points, or 1.43%, at 2,213.77, declining for a second straight session. 
 
Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.4 percent, while Japan’s Nikkei index closed down 0.84 percent.
 
 
- Reuters 
Share this

  Be the first to like this.
 


 

299  359  495  758 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 VC-PA 0.0750.00 
 LAMBO 0.07+0.005 
 LAMBO-WB 0.010.00 
 IMPIANA 0.045+0.005 
 HSI-C5G 0.16-0.025 
 EKOVEST 0.835+0.005 
 VC 0.305+0.02 
 HSI-H6G 0.305+0.07 
 PWORTH 0.07+0.005 
 EKOVEST-WB 0.345+0.005 

TOP ARTICLES

1. UNDERLOOKED BENEFICIARY OF GOVT INFRA SPENDING (ECRL, BDR MSIA, etc) !!! Bursa Master
2. Dayang: Puzzle is Clearer - Koon Yew Yin Koon Yew Yin's Blog
3. Dayang, how will its share price move next week? kcchongnz kcchongnz blog
4. Is paying dividend important? Sslee blog
5. CIMB is a must short company in KLCI/aka short MYR CIMB is a must short company in KLCI/aka short MYR
6. Dr M can restore economy in two years, says Anwar save malaysia!!!
7. [转贴] [COCOALAND HOLDINGS BHD:自2019年4月1日开始以含饮料包装的形式对含糖饮料制造征收40仙/升的含糖税被视为影响集团饮料业务的另一项发展] - James的股票投资James Share Investing James的股票投资James Share Investing
8. [转贴] 浅谈 ARBB(7181)的“价值炸弹?” - Part 2 12invest Sharing
Partners & Brokers