China's Stocks Come to a Jumbled Close
Xu Wei
DATE:  Mar 07 2019
/ SOURCE:  yicai

(Yicai Global) March 7 -- Chinese stock markets closed all mixed up today. Securities sectors boosted the Shanghai bourse as securities brokerage firms saw surging profits and revenues last month, while profit-predation among small caps dragged down Shenzhen.

The Shanghai Composite Index closed at 3,106.42, up 0.14 percent, after flipping CNY526 billion (USD78.5 billion), while the Shenzhen Component Index dropped 0.23 percent to 9,678.1, and swapped over CNY641 billion. 

The ChiNext price Index, which tracks growth enterprises in Shenzhen, scaled down 0.48 percent to 1,692.48 on turnover of CNY113 billion.

Combined net profits of 28 listed brokerage firms that have released financial reports totaled CNY8.2 billion last month, up 44 percent per month, Shanghai Securities News reported today.

Editor: Ben Armour

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