Chinese stocks close Tuesday’s session 0.07 percent lower


(MENAFN) On Tuesday, Chinese stocks closed the trading session on a downward trend. The benchmark Shanghai Composite Index experienced a slight decrease of 0.07 percent, ending at 3,145.77 points. Likewise, the Shenzhen Component Index registered a marginal drop, closing 0.05 percent lower at 9,668.73 points. The total turnover of stocks on these two indices amounted to 824.56 billion yuan, which is approximately 116.05 billion U.S. dollars. This figure represents a decline from the 909.72-billion-yuan turnover recorded during the previous trading day, indicating reduced trading activity.

In sector-specific performance, shares related to home appliances and coal mining faced significant declines, reflecting a broader market sentiment that may be influenced by various economic factors and sector-specific challenges. On the other hand, stocks in the furniture and entertainment sectors showed positive gains, suggesting investor confidence in these areas or favorable conditions influencing these industries.

Moreover, the ChiNext Index, which is designed to track China’s Nasdaq-style board for growth enterprises and is a barometer for high-growth and tech-oriented companies, saw a decrease of 0.26 percent, closing at 1,855.6 points. This decline in the ChiNext Index highlights the broader challenges faced by growth and technology stocks in the current market environment. Overall, the mixed performance across different sectors and indices reflects the complex and dynamic nature of the Chinese stock market.

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