Blue-chip index posts a worst day after weak data
Chinese mainland’s blue-chip index posted its worst day since mid-August on Tuesday, after a batch of data showed the economy cooled further last month and as Chinese treasury yields continued to creep up, a sign of tightening liquidity.
The blue-chip CSI300 index was down 0.70 percent, with its financial sector sub-index slightly up 0.01 percent, the consumer staples sector down 2.3 percent, the real estate index up 2.26 percent and the healthcare sub-index down 1.66 percent.
The Shanghai Composite Index closed down 0.53 percent at 3,429.55 points.
Data on Tuesday showed that China’s economy lost steam in October, with industrial output, fixed asset investment and retail sales missing expectations as the government extended a crackdown on debt risks and factory pollution.
Sentiment was further dented by signs that liquidity in the banking system remains tight, with China’s benchmark 10-year treasury yields almost touching 4 percent, the highest level in three years.
The largest percentage gainers in the main Shanghai bourse were SJEC Corp up 10.03 percent, followed by Hebei Hengshui Laobaigan Liquor Co gaining 10 percent and Shanghai Material Trading Co up by 9.99 percent.
The largest percentage losses in the index were Shanghai Feilo Acoustics Co down 7.59 percent, followed by Sanan Optoelectronics Co losing 7.41 percent and Hna Innovation Co down by 6.55 percent.