Financial and cyclical shares cloud index

Source: Xinhua | 2018-04-26

SHANGHAI stocks slipped yesterday amid a collapse by cyclical shares and financial companies.

The Shanghai Composite Index shed 0.35 percent to 3,117.97 points.

Shanxi Antai Group Co Ltd dropping 5 percent and Yanzhou Coal down 3.07 percent.

Oil and petrochemical companies were also among the biggest decliners. Sinopec Group lost 2.74 percent to 6.75 yuan, and Zhongman Petroleum&Natrl Gas Grp Corp Ld fell 1.8 percent.

Financial shares also gave up their Tuesday’s gains.

The Industrial Bank Co Ltd fell 1.89 percent, China Minsheng Bank Corp Ltd shed 1.65 percent and the Industrial and Commercial Bank of China Ltd lost 1.48 percent.

New Life Insurance, Ping An Insurance and Pacific Securities Co Ltd also took their cue from the general decline in the market.