1st LD-Writethru: Chinese shares recover earlier losses

Xinhua
28 Jul 2021, 21:49 GMT+10

BEIJING, July 28 (Xinhua) -- Chinese stocks closed lower on Wednesday, with the benchmark Shanghai Composite Index down 0.58 percent, at 3,361.59 points, easing from a sharp drop of 2.49 percent on Tuesday.

The Shenzhen Component Index closed 0.05 percent lower at 14,086.42 points, recovering from Tuesday's loss of 3.67 percent.

The combined turnover of stocks covered by the two indices came in at 1.27 trillion yuan (about 195.6 billion U.S. dollars), down from 1.53 trillion yuan on the previous trading day.

　 The sharp drop is unsustainable and the index will gradually stabilize, Guotai Junan Securities said in a report, noting that the decline of the market earlier was mainly affected by short-term factors, and the medium-term positive trend of the market remains unchanged.

The macro liquidity remains loose, with the reserve requirement ratio cut earlier this month leading to a stable market expectation of macro liquidity easing, said Qin Peijing, chief analyst of CITIC Securities, in a research note.

Qin added that the driving forces and bright spots of the Chinese economy in the second half of the year still exist, and the trend of stable and positive fundamentals also remains unchanged.

The ChiNext Index, tracking China's NASDAQ-style board of growth enterprises, gained 1.61 percent to close at 3,284.92 points Wednesday.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Brazil Sun.

More Information

null in null

South America

Section

Shashi Tharoor-led delegation meets Panama Assembly President Dana Castaneda

Panama City [Panama], May 28 (ANI): Congress MP Shashi Tharoor-led delegation visited Panama's National Assembly on Tuesday (local...

All-party delegation led by Congress MP Shashi Tharoor arrives in Panama

Panama City [Panama], May 27 (ANI): An all-party delegation, led by Congress MP Shashi Tharoor, arrived in Panama City for a three-day...

President of Paraguay meets Nahyan bin Mubarak in Abu Dhabi, discusses prospects for joint cooperation

ABU DHABI, 27th May 2025 (WAM) -- In the context of strengthening bilateral relations between the UAE and the Republic of Paraguay,...

Maduro consolidates hold on power as Venezuela's opposition boycotts elections

Venezuela's ruling party romped to victory in regional and legislative elections on May 25, winning over 82% of votes cast for the...

Paraguay President Santiago Pena Palacios to visit India from June 2-4

New Delhi [India], May 27 (ANI): Paraguay President Santiago Pena Palacios will pay a State Visit to India at the invitation of Prime...

Former envoy Taranjit Sandhu calls Tharoor-led party delegation's visit to Guyana "fruitful and productive"

Georgetown [Guyana], May 27 (ANI): Former Indian Ambassador to the United States and BJP leader Taranjit Singh Sandhu, who is part...

Business

Section