Off the wire
• Somali prime minister names new cabinet  • Roundup: Hong Kong stocks close 0.22 pct higher  • Colombia's Independiente Santa Fe grabs 2015 Superliga championship title  • Overnight visitors to Hainan hit 40 mln in 2014  • Nishikori out as Keys, 19, makes Australian Open semifinals  • China's forest products foreign trade reaches 138 bln USD  • Urgent: Russian FM urges Kiev to keep neutral status after U.S. treasury secretary's pressure threat  • Singapore stocks close 0.20 pct higher  • Wawrinka stuns Nishikori to reach Australian Open semis  • Foreign exchange rates in Singapore  
You are here: 　 Home

1st LD-Writethru: China stocks close lower Wednesday

Xinhua, January 28, 2015 Adjust font size:

Chinese shares ended Wednesday in negative territory despite a brief pull-up in the afternoon session led by securities and banking stocks.

The benchmark Shanghai Composite Index went down 1.41 percent to end at 3,305.74 points, while the Shenzhen Component Index fell 1.71 percent to end at 11,354.2 points

Total turnover on the two bourses came in at 606.5 billion yuan (98.8 billion U.S. dollars).

The securities sector once rallied by nearly 2 percent in the afternoon session, but failed to hold onto the gains, ending the day with a 0.5-percent drop.

Guoyuan Securities went down 7.56 percent to close at 33 yuan per share, while Shenwan Hongyuan Group gave up 3.16 percent to end at 17.17 yuan.

Chen Wei, an analyst with CITIC Securities, said the decision by several banks to tighten capital allocation on umbrella trusts, as well as regulators' crackdown on stock price manipulation, have combined to affect market sentiment.

Expectation of the yuan's depreciation against the U.S. dollar may hit the finance and property sectors, he added, predicting a slight retreat in the market in the short term. Endi