Shanghai index closes at a near one-year low
Chinese mainland stocks closed lower on Tuesday, with the Shanghai index ending at a near one-year low.
The blue-chip CSI300 index fell 1.58 percent to 3,748.64 points, its lowest level since August 2017, while the Shanghai Composite Index lost 1.41 percent to 3,066.80 points, its lowest closing level since May 2017.
China’s tech shares were punched hard after the ZTE ban in the US, with an index tracking major information firms tumbling nearly 4 percent. The tech-heavy start-up board index ChiNext also closed down 2.99 percent in its worst day since late March.
Investors were also pondering over China’s GDP data in the first quarter. China’s economy grew 6.8 percent between January and March 2018, slightly faster than expected.
The largest percentage gainers in the main Shanghai index were HNA Innovation Co up 10.08 percent, followed by Gansu Dunhuang Seed Co, which ended 7.04 percent up, and Lawton Development Co, which rose 6.05 percent.
The largest percentage losers in the Shanghai index were Shanghai Fukong Interactive Entertainment Co, which closed 10.04 percent down, followed by Keda Group Co, which ended 10.04 percent lower, and Shanghai Feilo Acoustics Co, which plunged 10 percent.