Monday, 20 August 2018 14:52 WIB |
MARKET UPDATE |The Shanghai Composite IndexSaham Cina Shanghai composite
China's Shanghai Composite Index rebounded after slipping below its lowest closing level of 2016, ending up with its biggest gain since Aug. 9.
The Shanghai gauge closed up 1.1 percent at 2,698.47 after falling as much as 0.6 percent to 2,653.11. It was its first gain in six trading days. The closing low in 2016, when China was managing the fallout of a stock market crash and yuan devaluation, was 2,655.66. Other indexes on the mainland and in Hong Kong also climbed Monday afternoon, as the China Securities Journal reported that officials met with analysts to seek their views on markets.
Other Chinese equity gauges have also fared poorly for most of 2018. The CSI 300 Index is down 26 percent from its January high and the ChiNext gauge of small caps and technology stocks has fallen 24 percent since the end of March.
Around $1.5 trillion has been wiped from the Shanghai Composite Index since it hit a more than two-year high in January.
CSI 300 Index rises 1.2 percent, erasing 0.6 percent loss. ChiNext adds 0.1 percent after falling as much as 2.1 percent.