Economy News

Shares end winning run

SHANGHAI stocks ended a six-day rising streak yesterday amid lower-than-expected economic data.

The Shanghai Composite Index dipped 0.53 percent to 3,429.55 points after investors digested the news that China’s value-added industrial output rose 6.2 percent in October from a year ago, down 0.4 percentage points from September.

“The lower-than-expected data from the National Bureau of Statistics has clouded investor sentiment,” said Shen Meng, director of Chanson & Co, a domestic investment bank.

Most sectors fell, with HNA Innovation Co, a property investment company, tumbling 6.37 percent to 5.29 yuan (80 US cents), while Shanghai Hongda Mining Co lost 4.38 percent to 12.45 yuan.
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