Chinese Stock Indexes Walk Back Most of October Gains in One Afternoon
Tang Shihua
DATE:  Oct 23 2020
/ SOURCE:  Yicai
Chinese Stock Indexes Walk Back Most of October Gains in One Afternoon Chinese Stock Indexes Walk Back Most of October Gains in One Afternoon

(Yicai Global) Oct. 23 -- China's mainland stock markets ended a rollercoaster of a week with a big splash as major indexes wiped out most of their October gains amid uncertainties of global economic recovery.

However, the country's banking, catering, and hospitality sectors, as well as infrastructure builders managed to buck the downward trend. The fields of agriculture, internet and software, healthcare, as well as logistics were among the worst performers.

Technology-related growth stock indexes were faring the worst this week. The Star Market Board 50 Index, or Star 50, slid 2.91 percent to 1,336.53, while its slump for the past five days is 7.09 percent, the biggest weekly decline in more than three months.

The ChiNext Price Index, which tracks growth enterprises in Shenzhen, fell 2.72 percent to 2,600.84. This week, it has plunged 4.54 percent.

The Shanghai Composite Index closed the day 1.04 percent weaker at 3,278.00, which is 1.75 percent less than what it started the week with. The Shenzhen Component Index was down 2.00 percent to 13,128.46. It has declined by 2.99 percent over the past five trading days.

Editor: Emmi Laine

 

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Keywords:   Stock Market,Market Close