China's Stock Markets Enter Lunch Break Higher After Shaky Start
Tang Shihua
DATE:  Jan 30 2019
/ SOURCE:  yicai

(Yicai  Global) Jan. 30 -- China's stock markets overcame a low opening today  to go into the lunch break slightly higher though the trading volume has  been relatively light so far.

The  benchmark Shanghai Composite Index was up 0.09 percent at 2,596.65  points at the break, having gone as low as 2,578.87 earlier. The  Shenzhen Component Index went into lunch up 0.23 percent at 7,568.75,  while the ChiNext Price Index, which tracks growth enterprises in  Shenzhen, was up 0.11 percent at 1245.04.

The  country's indexes opened lower after several notable listed firms  posted early profit warnings today for the past fiscal year. China Life,  the nation's largest insurer said overnight, that its net profit for  2018 could be between 50 percent and 70 percent lower than that of 2017.  

The  company blamed the result on equity investment losses on the local  stock market. The benchmark Shanghai Composite Index has fallen as much  as 30 percent over the past 12 months. 

China Life's stock [HKG:2628; SHA:601628] was  down 1.60 percent in Shanghai as of the lunch break after opening more  than 4 percent lower, and it was 3.22 percent down in Hong Kong as of  11.50 a.m.

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Keywords:   Stock Markets,Shanghai Composite Index,Shenzhen Component Index,ChiNext Price Index