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Chinese Stocks Drop as Xi's Milestone Speech Disappoints Traders
The Shanghai Composite Index was down 1.1 percent as of 1:03 p.m. The tech-heavy ChiNext gauge declined 1 percent and Hong Kong’s Hang Seng Index dropped 0.9 percent, wiping out an early advance. Trading volume on the Shanghai gauge was 31 percent below its 30-day intraday average, according to data compiled by Bloomberg. Xi’s speech is to mark China’s achievements in the past 40 years so “people shouldn’t expect any specific policies to be mentioned,” said Dai Ming, a Shanghai-based fund manager with Hengsheng Asset Management Co. “Investors should wait for the Central Economic Work Conference for a policy tone and measures from the two meetings early next year.
https://finance.yahoo.com/news/chinese-stocks-retreat-traders-watch-034606580.html?.tsrc=rss
The Shanghai Composite Index was down 1.1 percent as of 1:03 p.m. The tech-heavy ChiNext gauge declined 1 percent and Hong Kong’s Hang Seng Index dropped 0.9 percent, wiping out an early advance. Trading volume on the Shanghai gauge was 31 percent below its 30-day intraday average, according to data compiled by Bloomberg. Xi’s speech is to mark China’s achievements in the past 40 years so “people shouldn’t expect any specific policies to be mentioned,” said Dai Ming, a Shanghai-based fund manager with Hengsheng Asset Management Co. “Investors should wait for the Central Economic Work Conference for a policy tone and measures from the two meetings early next year.
https://finance.yahoo.com/news/chinese-stocks-retreat-traders-watch-034606580.html?.tsrc=rss
