AGL 40.21 Increased By ▲ 0.18 (0.45%)
AIRLINK 127.64 Decreased By ▼ -0.06 (-0.05%)
BOP 6.67 Increased By ▲ 0.06 (0.91%)
CNERGY 4.45 Decreased By ▼ -0.15 (-3.26%)
DCL 8.73 Decreased By ▼ -0.06 (-0.68%)
DFML 41.16 Decreased By ▼ -0.42 (-1.01%)
DGKC 86.11 Increased By ▲ 0.32 (0.37%)
FCCL 32.56 Increased By ▲ 0.07 (0.22%)
FFBL 64.38 Increased By ▲ 0.35 (0.55%)
FFL 11.61 Increased By ▲ 1.06 (10.05%)
HUBC 112.46 Increased By ▲ 1.69 (1.53%)
HUMNL 14.81 Decreased By ▼ -0.26 (-1.73%)
KEL 5.04 Increased By ▲ 0.16 (3.28%)
KOSM 7.36 Decreased By ▼ -0.09 (-1.21%)
MLCF 40.33 Decreased By ▼ -0.19 (-0.47%)
NBP 61.08 Increased By ▲ 0.03 (0.05%)
OGDC 194.18 Decreased By ▼ -0.69 (-0.35%)
PAEL 26.91 Decreased By ▼ -0.60 (-2.18%)
PIBTL 7.28 Decreased By ▼ -0.53 (-6.79%)
PPL 152.68 Increased By ▲ 0.15 (0.1%)
PRL 26.22 Decreased By ▼ -0.36 (-1.35%)
PTC 16.14 Decreased By ▼ -0.12 (-0.74%)
SEARL 85.70 Increased By ▲ 1.56 (1.85%)
TELE 7.67 Decreased By ▼ -0.29 (-3.64%)
TOMCL 36.47 Decreased By ▼ -0.13 (-0.36%)
TPLP 8.79 Increased By ▲ 0.13 (1.5%)
TREET 16.84 Decreased By ▼ -0.82 (-4.64%)
TRG 62.74 Increased By ▲ 4.12 (7.03%)
UNITY 28.20 Increased By ▲ 1.34 (4.99%)
WTL 1.34 Decreased By ▼ -0.04 (-2.9%)
BR100 10,086 Increased By 85.5 (0.85%)
BR30 31,170 Increased By 168.1 (0.54%)
KSE100 94,764 Increased By 571.8 (0.61%)
KSE30 29,410 Increased By 209 (0.72%)

SHANGHAI: China stocks slumped to a one-month low on Wednesday with the Shanghai benchmark dropping below the psychologically key 3000-point mark as the yuan weakened and strong selling by foreign investors weighed on the market.

Foreign investors sold a net 7.2 billion yuan ($996.00 million) of Chinese shares via Stock Connect during the day, logging the biggest daily outflow since mid January.

The broad Asian markets lacked direction as investors wait for Friday’s release of US core inflation data.

The market weakened even after data showed on Wednesday that China’s industrial firms posted higher profits in the opening months of the year, as overall gains remain tempered by the persistent fragility in China’s property market, pointing to a divergence in the country’s post-pandemic recovery.

At the close, the Shanghai Composite index was down 1.26% at 2,993.14, and the blue-chip CSI300 index was down 1.16%. Both indexes closed at nearly one-month low levels.

The financial sector sub-index was lower by 0.42%, and the consumer staples sector closed down 0.96%, while the real estate index dropped 2.74% and the healthcare sub-index lost 1.1%.

The smaller Shenzhen index ended down 2.8% and the start-up board ChiNext Composite index was weaker by 2.808%.

The Hang Seng index was down 225.48 points, or 1.36%, to 16,392.84. The Hang Seng China Enterprises index fell 1.67% to 5,728.13.

The Hang Seng sub-index tracking energy shares dipped 0.8%, while the IT sector dipped 1.11%. The financial sector ended 1.49% lower and the property sector dipped 0.13%.

Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.35%, while Japan’s Nikkei index closed up 0.9%.

Comments

Comments are closed.