Shanghai shares hit 31-month closing low

Source:Reuters-Global Times Published: 2018/9/11 17:08:40

The Shanghai Composite Index shed early gains to end at its weakest close in 31 months on Tuesday, as investors took a cautious stance awaiting developments in international trade disputes.

At the close, the Shanghai Composite Index was down 0.18 percent at 2,664.80 points. It was the lowest close for the index since January 28, 2016. Earlier in the session, the index hit an intraday low of 2,652.70, its lowest level since February 29, 2016.

Meanwhile, the blue-chip CSI300 index was down 0.18 percent,  with its financial sector sub-index ending 0.59 percent lower, the consumer staples sector ending up 0.51 percent, the real estate index closing down 0.92 percent and the healthcare sub-index ending 0.55 percent firmer.

Some suppliers of Apple Inc extended losses after US President Donald Trump tweeted that the tech giant should make products in the US if it wanted to avoid tariffs on Chinese imports.

Among Apple suppliers, Shenzhen Sunway Communication Co fell 2.09 percent and Suzhou Dongshan Precision Manufacturing Co lost 3.59 percent, but Luxshare Precision Co bounced 0.93 percent after a 10-percent plunge Monday.

The start-up board ChiNext Composite Index was higher by 0.31 percent.

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