China: Shanghai stock index flat, nearing key resistance level
[SHANGHAI] China stocks closed roughly flat on Wednesday, as the Shanghai market came under pressure near key technical resistance and after signs of subdued manufacturing activity.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.1 per cent, to 3,209.46, while the Shanghai Composite Index closed flat, at 2,991.27 points. For Shanghai, 3,000 is a key resistance level.
Shanghai market trading volumes have hovered near 4-month lows in recent sessions, restrained by a lack of strong conviction over China's economic recovery, while the market's rebound since early March appears to have lost steam.
Most sectors fell in China on Wednesday, with resource shares among the biggest decliners as the country's commodities futures market continued to cool in the wake of a regulatory crackdown on speculation.
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
Euro at highest to yen since 2008, markets nervy over Tokyo stepping in
Singapore stocks track Wall Street gains on Tuesday; STI up 1.5%
UBS lifts Chinese stocks to overweight in rare upgrade call
Asia: Most markets rise with earnings, US data in view
Singapore banks lead market surge again on easing Middle East tensions; STI up 1%
Stocks to watch: Clar, Keppel Reit, ESR-Logos Reit, Nanofilm, LHN