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China Stock Market Tipped To Open In The Green

(RTTNews) - The China stock market has moved lower in two consecutive trading days, sliding more than 80 points or 2.4 percent along the way. The Shanghai Composite Index now sits just above the 3,360-point plateau and it's looking at a positive lead for Thursday's trade.

The global forecast for the Asian markets is upbeat on optimism for a coronavirus treatment. The European and U.S. markets were up and the Asian bourses are tipped to follow that lead.

The SCI finished sharply lower on Wednesday following losses from the financial shares, property stocks and oil and insurance companies.

For the day, the index tumbled 53.31 points or 1.56 percent to finish at 3,361.30 after trading between 3,345.75 and 3,432.45. The Shenzhen Composite Index plunged 47.77 points or 2.07 percent to end at 2,261.80.

Among the actives, Industrial and Commercial Bank of China skidded 1.17 percent, while Bank of China retreated 1.44 percent, China Construction Bank declined 1.71 percent, China Merchants Bank tumbled 1.78 percent, China Life Insurance eased 0.15 percent, Ping An Insurance sank 1.33 percent, PetroChina surrendered 1.54 percent, China Petroleum and Chemical (Sinopec) dropped 0.98 percent, Baoshan Iron plunged 2.48 percent, Gemdale tanked 1.73 percent, Poly Developments plummeted 2.84 percent and China Vanke tanked 2.28 percent.
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