China shares lower at close of trade; Shanghai Composite down 1.15%

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China shares lower at close of trade; Shanghai Composite down 1.15%
Credit: © Reuters. – China equities were lower at the close on Wednesday, as losses in the Life Insurance , Electricity and Banking sectors propelled shares lower.

At the close in Shanghai, the Shanghai Composite declined 1.15% to hit a new 3-year low, while the SZSE Component index fell 1.25%.

The biggest gainers of the session on the Shanghai Composite were Beijing Airport High-Tech Park Co Ltd (SS: 600463 ), which rose 10.06% or 0.720 points to trade at 7.880 at the close. Eastern Communications Co Ltd A (SS: 600776 ) added 10.03% or 1.150 points to end at 12.620 and Start Group (SS: 600734 ) was up 10.03% or 0.630 points to 6.910 in late trade.

Biggest losers included Kangmei Pharmaceutical Co Ltd (SS: 600518 ), which lost 9.99% or 0.920 points to trade at 8.290 in late trade. Hubei Jumpcan Pharmaceutical Co Ltd (SS: 600566 ) declined 9.99% or 3.350 points to end at 30.180 and Zijin Mining Group Co Ltd Class A (SS: 601899 ) shed 9.88% or 0.330 points to 3.010.

The top performers on the SZSE Component were Zhongfu Straits Pingtan Development Co Ltd (SZ: 000592 ) which rose 10.11% to 2.94, Guangzhou Haige Communications Group Incorporated Co (SZ: 002465 ) which was up 5.51% to settle at 8.23 and Wangsu Science Tech (SZ: 300017 ) which gained 4.98% to close at 8.22.

The worst performers were Zhongtian Urban Development Group Co Ltd (SZ: 000540 ) which was down 10.06% to 4.38 in late trade, Zhejiang Huace Film TV Co (SZ: 300133 ) which lost 10.04% to settle at 8.06 and Huadong Medicine Co Ltd (SZ: 000963 ) which was down 10.02% to 23.81 at the close.

Declining stocks outnumbered rising ones by 808 to 583 and 88 ended unchanged on the Shanghai Stock Exchange.

The CBOE China Etf Volatility , which measures the implied volatility of Shanghai Composite options, was unchanged 0.00% to 26.49.

In commodities trading, Gold Futures for February delivery was up 0.43% or 5.55 to $1286.85 a troy ounce. Meanwhile, Crude oil for delivery in February fell 1.92% or 0.88 to hit $44.92 a barrel, while the March Brent oil contract fell 1.64% or 0.89 to trade at $53.23 a barrel.

USD/CNY was down 0.27% to 6.8574, while EUR/CNY fell 0.12% to 7.8724.

The US Dollar Index Futures was down 0.21% at 95.493.

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