Index takes cue from fall in shares

Source: Xinhua | 2018-04-24

SHANGHAI stocks dipped yesterday after defense and computer companies fell.

The Shanghai Composite Index shed 0.11 percent to close at 3,068.01 points.

Defense firms including Jiangxi Hongdu Aviation Industry Co Ltd, Beijing Aerospace Changfeng Co Ltd and AECC Aero Science and Tech Co Ltd all dropped by over 6 percent.

Avic Shenyang Aircraft Co Ltd fell 8.61 percent and Avic Helicopter Co Ltd shed 8.49 percent.

Investors were also worried over the spat involving ZTE Corp in the US after Washington last Monday imposed a seven-year ban on companies supplying vital components to one of China’s biggest technology companies.

Shares of chip firms suffered one of their biggest drops.

Will Semiconductor Co Ltd Shanghai fell 7.82 percent to end at 36.89 yuan and Datang Telecom Technology Co Ltd lost to finsh at 7.54 percent.