China stocks fall as yuan hits 2-week low
Wednesday, 18 July 2018 14:53 WIB | MARKET UPDATE |The Shanghai Composite IndexSaham Cina Shanghai composite

China stocks erased earlier gains and ended Wednesday lower as a weaker yuan pulled down prices of real estate developers and airliners.

The blue-chip CSI300 index fell 0.5 percent to 3,431.32 while the Shanghai Composite Index lost 0.4 percent to 2,787.26 points.

China's yuan hit a two-week low against a broadly stronger U.S. dollar on Wednesday, breaching the key 6.7 per dollar level.

Property firms, whose value is linked to foreign interest in yuan assets, fell over 2 percent, while airliners, which are burdened with heavy dollar borrowings, also dropped.

The blue-chip CSI300 index was down 0.5 percent, with its financial sector sub-index trading 0.53 percent lower; the consumer staples sector was down 0.82 percent, the real estate index was 2.08 percent weaker while the healthcare sub-index edged up 0.18 percent.

The smaller Shenzhen index ended down 0.75 percent and the start-up board ChiNext Composite index was weaker by 0.85 percent.

Source: Reuters

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