SHANGHAI: China's blue-chip shares ended lower on Tuesday, as uncertainty about the impact of the US government's move to add more Chinese entities to an export control list weighed on sentiment.
** Shenzhen Hymson Laser Intelligent Equipment Co, a laser and automation equipment maker, closed down 7.4%, after its unit was added to the list by the United States.
** Hong Kong-listed shares of WuXi Biologics slumped more than 30%, after the maker of ingredients for vaccines was added to the list. Trade in its shares was later halted.
** The news of the US unverified list is having a large impact on listed companies as well as relevant industries and supply chain, said Zhang Siyi, an analyst with Nanhua Futures. "It will affect the expectations of profitability of those companies and have a bearish impact on the A-share market."
New energy, machinery stocks lift China shares
** At the close, the Shanghai Composite index was up 0.67% at 3,452.63. The blue-chip CSI300 index fell 0.55%, recovering after it hit a 19-month low earlier in the session.
** The new-energy vehicle sector sub-index slumped 3.98%, while the sub-index tracking coal miners and oil refiners gained 4.28%.
** Shanghai's Nasdaq-style STAR Market lost 2.4%, while the start-up board ChiNext Composite index was weaker by 2.446%. The smaller Shenzhen index ended down 0.26%.
** The US Commerce Department said on Monday it had added 33 Chinese entities to its so-called 'unverified list', which requires US exporters to go through more procedures before shipping goods to the entities.
** The US House of Representatives had also passed a multibillion-dollar bill aimed at increasing American competitiveness with China and offset China's market-distorting trade practices by strengthening anti-dumping rules.
** Around the region, MSCI's Asia ex-Japan stock index was barely changed , while Japan's Nikkei index closed up 0.13%.
** At 07:11, the yuan was quoted at 6.3628 per US dollar, 0% weaker than the previous close of 6.3625.
Comments
Comments are closed.