China Stocks May Halt Losing Streak

(RTTNews) - The China stock market has finished lower in back-to-back sessions, slipping almost 15 points or 0.5 percent along the way. The Shanghai Composite Index remains just above the 2,940-point plateau although it's expected to find support on Friday.

The global forecast for the Asian markets suggests mild upside on the back of tech shares after solid earnings news. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The SCI finished barely lower on Thursday following a mixed performance from the properties and support from the financials and oil companies.

For the day, the index dipped 0.70 points or 0.02 percent to finish at 2,940.92 after trading between 2,927.06 and 2,953.04. The Shenzhen Composite Index sank 2.07 points or 0.13 percent to end at 1,616.33.

Among the actives, Industrial and Commercial Bank of China collected 0.85 percent, while Bank of China advanced 1.08 percent, China Construction Bank added 0.68 percent, China Merchants Bank climbed 1.39 percent, China Life Insurance dropped 1.01 percent, Ping An Insurance rose 0.34 percent, PetroChina was up 0.17 percent, China Petroleum and Chemical (Sinopec) gained 0.40 percent, China Shenhua Energy spiked 1.44 percent, Gemdale and Poly Developments both perked 0.39 percent and China Vanke fell 0.45 percent.
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