China stocks slip on economy concerns

Dhaka,  Thu,  24 August 2017
Published : 12 Jun 2017, 14:37:59

China stocks slip on economy concerns

China stocks slip on economy concerns
China stocks slipped on Monday as investors worried that tighter credit will drag on corporate profitability and economic growth in coming months.

The blue-chip CSI300 index ended little changed at 3,574.39 points, while the Shanghai Composite Index lost 0.6 per cent to 3,139.88.

Tech shares dropped sharply, following a sell-off on Wall Street on Friday triggered by concerns about Apple's new iPhones and a cautious Goldman Sachs report about the sector.

The tech-heavy growth board ChiNext lost 1.1 per cent, while the CSI TMT Index dropped 1.5 per cent.

China Vanke hit a six-month high before ending up 4.0 per cent, after Shenzhen Metro became the developer's largest shareholder, surpassing financial conglomerate Baoneng Group. Reports Reuters.
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