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Chengg
2021-06-16

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China shares end lower as material firms, foreign outflow concerns weigh

BEIJING, June 16 (Reuters) - China shares ended lower on Wednesday, dragged down by losses in materi

China shares end lower as material firms, foreign outflow concerns weigh

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jerfong
·2021-06-16
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materi","content":"<p>BEIJING, June 16 (Reuters) - China shares ended lower on Wednesday, dragged down by losses in material and healthcare stocks, as investors worried over lofty valuations and the outcome of a U.S. Federal Reserve meeting that could prompt foreign outflows.</p>\n<p>At the close of trade, the Shanghai Composite index was down 1.07% at 3,518.33 and the blue-chip CSI300 index&nbsp;lost 1.67%, having finished weaker on Tuesday.</p>\n<p>Analysts said there was a lack of factors for any upside momentum, while lofty valuations in some parts of the market were a cause of concern.</p>\n<p>The market was also under pressure from rising Sino-West tensions after G7 leaders took the Asian nation to task over a range of issues, which Beijing called a gross interference in the country's internal affairs.</p>\n<p>Among the worst-performing sectors on Wednesday, the material sub-index slumped 3.08% as a report on restrictions over state-owned firms' overseas commodity exposure 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0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina shares end lower as material firms, foreign outflow concerns weigh\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-16 16:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>BEIJING, June 16 (Reuters) - China shares ended lower on Wednesday, dragged down by losses in material and healthcare stocks, as investors worried over lofty valuations and the outcome of a U.S. Federal Reserve meeting that could prompt foreign outflows.</p>\n<p>At the close of trade, the Shanghai Composite index was down 1.07% at 3,518.33 and the blue-chip CSI300 index&nbsp;lost 1.67%, having finished weaker on Tuesday.</p>\n<p>Analysts said there was a lack of factors for any upside momentum, while lofty valuations in some parts of the market were a cause of concern.</p>\n<p>The market was also under pressure from rising Sino-West tensions after G7 leaders took the Asian nation to task over a range of issues, which Beijing called a gross interference in the country's internal affairs.</p>\n<p>Among the worst-performing sectors on Wednesday, the material sub-index slumped 3.08% as a report on restrictions over state-owned firms' overseas commodity exposure accelerated a sell-off in the sector.</p>\n<p>The healthcare sub-index lost 3.01%, with sector heavyweight Wuxi AppTec Co Ltd sliding 5.53%.</p>\n<p>The smaller Shenzhen index ended down 2.34% and the start-up board ChiNext Composite index was weaker by 4.18%.</p>\n<p>\"Investors are also nervous ahead of the U.S. Fed meeting, as Fed's hawkishness would push the dollar higher, pressuring the yuan and weighing on the A-share market by prompting foreign outflows,\" said Yan Kaiwen, an analyst with China Fortune Securities.</p>\n<p>China's central bank has directed financial institutions to hold more foreign exchange in reserve, a move that analysts say could help temper a rally in the yuan after the currency hit a three-year high against the dollar on Monday.</p>\n<p>Long-term appreciation in the yuan could have a large negative impact on China's economy even if there was no substantial effect on the country's exports in the short term, a former senior official at China's foreign exchange regulator warned.</p>\n<p>Around the region, MSCI's Asia ex-Japan stock index&nbsp;was weaker by 0.42%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"000001.SH":"上证指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143760300","content_text":"BEIJING, June 16 (Reuters) - China shares ended lower on Wednesday, dragged down by losses in material and healthcare stocks, as investors worried over lofty valuations and the outcome of a U.S. Federal Reserve meeting that could prompt foreign outflows.\nAt the close of trade, the Shanghai Composite index was down 1.07% at 3,518.33 and the blue-chip CSI300 index lost 1.67%, having finished weaker on Tuesday.\nAnalysts said there was a lack of factors for any upside momentum, while lofty valuations in some parts of the market were a cause of concern.\nThe market was also under pressure from rising Sino-West tensions after G7 leaders took the Asian nation to task over a range of issues, which Beijing called a gross interference in the country's internal affairs.\nAmong the worst-performing sectors on Wednesday, the material sub-index slumped 3.08% as a report on restrictions over state-owned firms' overseas commodity exposure accelerated a sell-off in the sector.\nThe healthcare sub-index lost 3.01%, with sector heavyweight Wuxi AppTec Co Ltd sliding 5.53%.\nThe smaller Shenzhen index ended down 2.34% and the start-up board ChiNext Composite index was weaker by 4.18%.\n\"Investors are also nervous ahead of the U.S. Fed meeting, as Fed's hawkishness would push the dollar higher, pressuring the yuan and weighing on the A-share market by prompting foreign outflows,\" said Yan Kaiwen, an analyst with China Fortune Securities.\nChina's central bank has directed financial institutions to hold more foreign exchange in reserve, a move that analysts say could help temper a rally in the yuan after the currency hit a three-year high against the dollar on Monday.\nLong-term appreciation in the yuan could have a large negative impact on China's economy even if there was no substantial effect on the country's exports in the short term, a former senior official at China's foreign exchange regulator warned.\nAround the region, MSCI's Asia ex-Japan stock index was weaker by 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