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China shares lower at close of trade; Shanghai Composite down 5.91%

Published 08/07/2015, 08:35
Updated 08/07/2015, 08:35
China shares lower at close of trade; Shanghai Composite down 5.91%

China shares lower at close of trade; Shanghai Composite down 5.91%

Investing.com – China equities were lower at the close on Wednesday, as losses in the Life Insurance, Telecoms and Mobile sectors propelled shares lower.

At the close in Shanghai, the Shanghai Composite lost 5.91% to hit a new 3-month low, while the SZSE Component index fell 2.94%.

The biggest gainers of the session on the Shanghai Composite were Xinri Hengli (SS:600165), which rose 8.64% or 1.200 points to trade at 15.090 at the close. Zhongxin Pharm (SS:600329) added 6.97% or 1.040 points to end at 15.970 and ENN Ecological Holdings Co Ltd (SS:600803) was up 6.05% or 0.740 points to 12.980 in late trade.

Biggest losers included Zhongyuan Exp (SS:600020), which lost 10.08% or 0.520 points to trade at 4.640 in late trade. Shandong Iron (SS:600022) declined 10.08% or 0.370 points to end at 3.300 and Zijiang (SS:600210) shed 10.08% or 0.500 points to 4.460.

The top performers on the SZSE Component were Shanghai Kaibao Pharmaceutical (SZ:300039) which rose 10.03% to 12.18, Zhongshan Broad-Ocean Motor Co Ltd (SZ:002249) which was up 10.03% to settle at 8.78 and Guizhou Bailing Group Pharmaceutical Co Ltd (SZ:002424) which gained 10.00% to close at 46.51.

The worst performers were Chengdu Xingrong Investment Co Ltd (SZ:000598) which was down 10.06% to 5.90 in late trade, Xinjiang Beixin Road&Bridge Group Co Ltd (SZ:002307) which lost 10.04% to settle at 7.35 and Shanxi Xishan Coal and Electricity Power Co Ltd (SZ:000983) which was down 10.03% to 5.83 at the close.

Declining stocks outnumbered rising ones by 720 to 13 on the Shanghai Stock Exchange.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was up 14.91% to 36.23 a new 1-month high.

In commodities trading, Gold for August delivery was down 0.32% or 3.70 to $1148.90 a troy ounce. Meanwhile, Crude oil for delivery in August fell 1.28% or 0.67 to hit $51.66 a barrel, while the August Brent oil contract fell 1.43% or 0.81 to trade at $56.03 a barrel.

USD/CNY was down 0.02% to 6.2090, while EUR/CNY fell 0.05% to 6.8339.

The US Dollar Index was down 0.07% at 96.82.

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