Saturday 21 April 2018

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

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.

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.

Online Editors

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