Shanghai shares post lower close

Source: Xinhua | 2018-06-27

SHANGHAI shares continued to stay down although the Shenzhen and the Nasdaq-style ChiNext recovered slightly.

The Shanghai Composite Index shed 0.52 percent, or 14.83 points, to close at 2,844.51, notching a tumble of 20 percent from 52-week highs, according to Dow Jones.

The smaller Shenzhen Component Index ended 0.16 percent up at 9,339.37 points. Gains by technology counters helped the Nasdaq-style ChiNext enterprise board rise 1.71 percent to close at 1,564.92.

Huatai Securities said the key Shanghai index’s performance showed the Chinese central bank’s recent liquidity injection of 700 billion yuan (US$108 billion) didn’t cheer investors as the move was in line with the market’s expectations.

Shanghai-listed China National Computer Software & Technology Service Corp soared by the daily maximum cap of 10 percent to 18.03 yuan.