China: Stocks flat as small-caps slump on profit-taking
[SHANGHAI] After a solid performance in morning trade, China stocks lost momentum and ended Tuesday flat as small caps slumped on profit-taking, reflecting how market sentiment remained fragile.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.2 per cent, to 3,758.39, while the Shanghai Composite Index was unchanged at 3,604.80 points.
Fears among investors after Friday's terror attacks in Paris seem to be receding and the yuan's likely inclusion this month in the IMF's global currency basket lends some support to Chinese stocks.
But traders say the imminent resumption of Chinese initial public offerings could put some pressure on the market.
Banking, energy and property shares were firmer on Tuesday, but their gains were offset by a slump in small-caps, as Shenzhen's start-up board ChiNext dropped 2.2 per cent.
Citic Securities rose 1.6 per cent. The brokerages said that it is planning to select a new chairman.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Vietnam delays launch of new stock trading system
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data
Singapore shares open lower on Friday; STI down 0.1%
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard
Europe: Stocks retreat on earnings gloom, weak US economic data