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China: Shares end flat, caught between weak yuan, stimulus hopes

Thursday, July 7, 2016 - 16:02
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[HONG KONG] Shanghai shares ended flat on Thursday, as concerns about further yuan weakness and instability in Europe after Brexit offset expectations of more stimulus measures to support the economy.

News of a rise in non-performing loans at the country's banks also rattled investors.

The Shanghai Composite Index ended flat at 3,016.85 points. The blue-chip CSI300 index slid 0.21 percent to 3,209.95 points, ending eight straight days of gains.

Outstanding non-performing loans in China's banks exceeded the two trillion yuan ($299.21 billion) mark at the end of May, according to a senior banking regulator official.

Sector performance was mixed with banks sliding on worries over rising bad loans. Consumer stocks, resources, and healthcare rose.

REUTERS