China Stock Market May Run Out Of Steam On Thursday

(RTTNews) - The China stock market has finished higher in five straight session, gathering more than 175 points or 5.2 percent in that span. The Shanghai Composite Index now rests just above the 3,550-point plateau although it may be stuck in neutral on Thursday.

The global forecast for the Asian markets is fraught with uncertainty after Trump supporters stormed the U.S. Capitol. Markets were mostly higher before this attack but now are likely to open lower.

The SCI finished modestly higher on Wednesday following gains from the financials, properties and oil companies.

For the day, the index gained 22.20 points or 0.63 percent to finish at 3,550.88 after trading between 3,513.13 and 3,556.80. The Shenzhen Composite Index eased 0.83 points or 0.01 percent to end at 2,421.51.

Among the actives, Bank of China collected 0.32 percent, while China Construction Bank advanced 0.97 percent, China Merchants Bank surged 4.67 percent, Bank of Communications added 0.45 percent, China Life Insurance soared 4.00 percent, Jiangxi Copper rose 0.38 percent, Aluminum Corp of China (Chalco) tumbled 1.84 percent, Yanzhou Coal sank 0.60 percent, PetroChina jumped 1.67 percent, China Petroleum and Chemical (Sinopec) rallied 2.24 percent, China Shenhua Energy climbed 1.70 percent, Gemdale gained 1.10 percent, Poly Developments perked 0.86 percent, China Vanke spiked 3.01 percent and Industrial and Commercial Bank of China was unchanged.
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