Bourse falls as telcoms dive weighs

Source: Xinhua | 2018-12-27

Shanghai stocks fell yesterday, led by falls in telecommunications and consumer shares as investor sentiment remained weak.

The Shanghai Composite Index edged down 0.26 percent to close at 2,498.29 points.

The telecoms sector was the biggest loser, shedding 1.85 percent.

Consumer shares fell 1.18 percent and brokerages retreated 1.07 percent, according to Chinese financial data provider Wind Information Co.

Market sentiment shows no improvement ahead of the three-day New Year holiday from Sunday.

Qin Hong, an analyst with Jingbailing Consulting, said telecoms stocks fell mainly due to investors locking in profits in the 5G sector.