Stocks fall broadly for 2nd day

Source: Xinhua | 2018-08-03

CHINA’S equities markets continued to fall broadly yesterday, with national defense stocks the worst performers.

The Shanghai Composite Index shed 2 percent, or 56.51 points, to finish at 2768.02 as heavily-weighted financials and small and mid-cap stocks posted strong losses.

The smaller Shenzhen Component Index declined by 2.50 percent to 8780.56 points, while the Nasdaq-style ChiNext enterprise board slumped by 2.06 percent to finish at 1510.09.

The China Academy of Building Research, saw its shares drop by the daily maximum of 10 percent to close at 26.90 yuan (US$3.95).

ChuanCai Securities noted that the recent fluctuations in the A-share market were mainly attributed to investors’ worries about Washington’s unilateral trade war moves.