Chinese shares record mixed fortune

Source: Xinhua | 2018-08-14

CHINESE shares closed mixed yesterday, with technology shares leading gains while financial counters and real estate developers losing heavily.

The Shanghai Composite Index lost 0.34 percent to end at 2,785.87 points, and the Shenzhen Component Index edged up 0.36 percent to 8,844.86 points.

Technology shares led the gains after China said it would revamp a national leadership group charged with planning and studying key technological strategies, signaling the possibility of policy shifts that could benefit the country’s tech sector, said Ma Wenya, general manager of Sunday Fund Co Ltd.

Chip shares, domestic software and semiconductor firms as well as stocks of cloud computing companies all surged. Shares of Gosun Holdings, China National Software and BoomSense rose by their daily limit of 10 percent.

In contrast, shares of financial companies and real estate developers lost heavily.