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Shanghai: Stocks end flat after currency move

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Shanghai shares closed flat on Tuesday as investors mulled the impact of a sharp devaluation of the yuan currency announced by China's central bank, dealers said.

[SHANGHAI] Shanghai shares closed flat on Tuesday as investors mulled the impact of a sharp devaluation of the yuan currency announced by China's central bank, dealers said.

The benchmark Shanghai Composite Index edged down 0.51 points to 3,927.91 on turnover of 712.3 billion yuan (S$160 billion), the day after surging nearly five per cent on speculation Beijing plans to overhaul its state-owned enterprises.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.41 per cent, or 9.43 points, to 2,284.27 on turnover of 623.1 billion yuan.

AFP