Fri, February 23, 2024

China Stocks Trade Lower, Shanghai Composite Drops 0.26%

nikkei, Asian stock market news

China stocks on Wednesday recorded lower at the trade close. The losses in sectors such as Telecoms, Mobile, and Life Insurance have dragged the shares lower.

The Shanghai Composite dropped 0.26%, hitting a fresh one-month low at the Shanghai close. Meanwhile, the SZSE Component index fell 0.58%.

During the session, the best performers were Guodian Nanjing Automation Co Ltd, Holsin Engineering Consulting Group Co Ltd, and Wuxi New Hongtai Electrical Technology Co Ltd. There was an increase of 10.08% or 0.380 points in the Guodian Nanjing Automation Co Ltd to end at 4.150. On one hand, the Holsin Engineering Consulting Group Co Ltd gained 10.02% or 2.500 points to trade at 27.450 at the close. Wuxi New Hongtai Electrical Technology Co Ltd, on the other hand, increased by 10.01% or 1.680 points to 18.470 in late trade.

Meanwhile, the worst performers of the session were Changyuan Group Ltd, Topscomm Communication Inc, and DELIXI XINJIANG Transportation Co Ltd. There was a decrease of 10.06% or 0.510 points to end at 4.560. On one hand, Qingdao Topscomm Communication Inc fell 7.32% or 1.800 points to trade at 22.800. DELIXI XINJIANG Transportation Co Ltd, on the other hand, slipped 5.95% or 1.82 points to 28.76.

For the SZSE Component’s session, XJ Electric Co Ltd, Yintai Resources Co Ltd, and Shenzhen Grandland Decoration Group Co Ltd were the top performers. Meanwhile, the worst performers were China West Construction Group Co Ltd, Zhonghong Holding Co Ltd, and Guangdong Eastone Century Technology Co Ltd.

On the Shanghai Stock Exchange, the number of declining stocks surpassed the rising ones by 766 to 604 and 104 ended unchanged.

Slipping into 5-year lows, Changyuan Group Ltd Shares dropped 10.06% or 0.510 to 4.560. There was a 52-week low in the shares of China West Construction Group Co Ltd, dropping 10.02% or 1.03 to 9.25. The shares in Zhonghong Holding Co Ltd slumped to all times lows, falling 8.70% or 0.02 to 0.21.

Measuring the implied volatility of Shanghai Composite options, the CBOE China Etf Volatility remained constant at 0.00% to 31.03, recording a new high for a month.

In other news, the February delivery of gold futures increased 0.31% 0.00% to 31.03. Moreover, there was an increase of 0.19% or 0.08 in the February delivery of the crude oil. Meanwhile, there was a decrease of 0.75% or 0.38 in the March delivery of the Brent oil contract to trade at $50.39 a barrel.

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