China’s Stock Markets End Little Changed Amid Cautious Pre-Holiday Mood
Xu Wei
DATE:  Sep 25 2020
/ SOURCE:  Yicai
China’s Stock Markets End Little Changed Amid Cautious Pre-Holiday Mood China’s Stock Markets End Little Changed Amid Cautious Pre-Holiday Mood

(Yicai Global) Sept. 25 -- Chinese mainland stock markets ended little changed today as investors were cautious ahead of a week-long national holiday that starts next week.

The Shanghai Composite Index closed 0.12 percent lower at 3,219.42 points, while the Shenzhen Component Index fell 0.02 percent to 12,814.17. The ChiNext, which tracks growth enterprises listed in Shenzhen, rose 0.18 percent to 2,540.43.

After briefly buoying indexes, the shares of securities companies locked in an average 1.8 percent gain at the close of trading. They have been among the country's best performing stocks this year as brokerage valuations have soared on the back of keen mom and pop investing.

For the week ended today, the ChiNext led a retreat on mainland markets as global equities pulled back over concerns a new surge in coronavirus infections will hamper economic revival. The ChiNext was down 14 percent from the close a week ago. The Shanghai Composite lost 3.6 percent and the Shenzhen Component fell 3.3 percent.

Cases of Covid-19 are rising again in the United States and the United Kingdom logged a record daily count yesterday. Meanwhile, Spain's government has recommended that Madrid be locked down to contain the spread and South Korea said it will tighten social distancing measures during an upcoming holiday.

China's markets will be closed for the National Day holiday from Oct. 1 to 8. Investors are generally cautious around this period.

Editor: Peter Thomas

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Keywords:   stock market,Shanghai Composite Index,ChiNext,national holiday