AIRLINK 75.05 Increased By ▲ 0.20 (0.27%)
BOP 5.03 Increased By ▲ 0.05 (1%)
CNERGY 4.48 Decreased By ▼ -0.01 (-0.22%)
DFML 41.80 Increased By ▲ 1.80 (4.5%)
DGKC 86.69 Increased By ▲ 0.34 (0.39%)
FCCL 21.50 Increased By ▲ 0.14 (0.66%)
FFBL 33.80 Decreased By ▼ -0.05 (-0.15%)
FFL 9.76 Increased By ▲ 0.04 (0.41%)
GGL 10.50 Increased By ▲ 0.05 (0.48%)
HBL 114.40 Increased By ▲ 1.66 (1.47%)
HUBC 139.76 Increased By ▲ 2.32 (1.69%)
HUMNL 11.76 Increased By ▲ 0.34 (2.98%)
KEL 5.21 Decreased By ▼ -0.07 (-1.33%)
KOSM 4.62 Decreased By ▼ -0.01 (-0.22%)
MLCF 38.00 Increased By ▲ 0.20 (0.53%)
OGDC 139.35 Decreased By ▼ -0.15 (-0.11%)
PAEL 26.05 Increased By ▲ 0.44 (1.72%)
PIAA 22.20 Increased By ▲ 1.52 (7.35%)
PIBTL 6.85 Increased By ▲ 0.05 (0.74%)
PPL 123.43 Increased By ▲ 1.23 (1.01%)
PRL 26.91 Increased By ▲ 0.33 (1.24%)
PTC 14.05 No Change ▼ 0.00 (0%)
SEARL 59.39 Increased By ▲ 0.41 (0.7%)
SNGP 68.89 Decreased By ▼ -0.06 (-0.09%)
SSGC 10.40 Increased By ▲ 0.10 (0.97%)
TELE 8.43 Increased By ▲ 0.05 (0.6%)
TPLP 11.25 Increased By ▲ 0.19 (1.72%)
TRG 63.85 Decreased By ▼ -0.34 (-0.53%)
UNITY 26.51 Decreased By ▼ -0.04 (-0.15%)
WTL 1.46 Increased By ▲ 0.01 (0.69%)
BR100 7,941 Increased By 104.1 (1.33%)
BR30 25,680 Increased By 228.2 (0.9%)
KSE100 75,974 Increased By 859.7 (1.14%)
KSE30 24,434 Increased By 319.6 (1.33%)

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.