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Tuesday 23 September 2014

China shares post biggest losses in three weeks, led by tech firms

Published 09/07/2014 | 08:12

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The Minhang Plaza shopping centre in Shanghai
The Minhang Plaza shopping centre in Shanghai

China shares had their biggest fall in three weeks today, with tech firms leading losses following a tumble overnight in US markets.

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China's consumer price inflation cooled slightly more than expected in June, data showed on Wednesday, pointing to lingering weakness in the world's second-largest economy.

The Shanghai Composite Index ended down 1.2 percent at 2,038.61 points while the CSI300 of the leading Shanghai and Shenzhen A-share listings lost 1.5 percent. Both had their biggest daily loss since June 19 after closing at their three-week highs on Tuesday.

Top CSI300 percentage loser was Iflytek, which dived 8.1 percent. DHC Software slumped 5.0 percent to a 1-1/2-month low.

China's trade data is expected on Thursday. Exports are forecast to rise 10.6 percent in June from a year ago, faster than May's 7 percent expansion and the best showing in five months.

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