Chinese Shares Fall as Consumer, Semiconductor Stocks Weigh -- Market Talk

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Chinese Shares Fall as Consumer, Semiconductor Stocks Weigh -- Market Talk

Dow Jones01-13

0146 GMT - Chinese shares fall in early trade, weighed by consumer and semiconductor stocks. China's central bank and foreign exchange regulator pledged to stabilize the yuan as the currency struggles. Semiconductor Manufacturing International Corp. drops 3.3% and Hygon Information Technology is 2.1% lower. Midea Group declines 1.2% and Gree Electric Appliances is down 1.7%. Energy stocks rise broadly with PetroChina gaining 2.3% and Cnooc up 4.0%. The benchmark Shanghai Composite Index is down 0.3% at 3160.97, the Shenzhen Composite Index is off 0.5% and the ChiNext Price Index edges 0.1% lower. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

January 12, 2025 20:46 ET (01:46 GMT)

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