Shares dip on weak sentiment

Source: Xinhua | 2017-09-20

SHANGHAI stocks slipped yesterday amid weak market sentiment as investors continued to be concerned over tightened supervision, while material, automobile and electronic components companies declined.

The Shanghai Composite Index dipped 0.18 percent to 3,356.84 points.

Market sentiment was weak as Xu Yilin, deputy general manager of Shanghai Stock Exchange, said yesterday that “Shanghai Stock Exchange will continuously strengthen the supervision of listed companies and curb abnormal trading.”

The China Insurance Regulatory Commission said that it will conduct inspections to rectify market irregularities and urge insurers to correct problems.

Hubei Sanxia New Building Materials Co Ltd fell 8.9 percent to 10.49 yuan (US$1.61), Shanghai Tongji Science & Technology Industrial Co Ltd lost 4.92 percent to 14.69 yuan and Zhejiang Zomax Transmission Co Ltd declined 3.83 percent to finish at 21.10 yuan.