(Yicai Global) Aug. 13 -- China's major stock benchmarks narrowed their losses by the end of the trading day while the agricultural sector bucked the downward trend by gaining 4.2 percent amid rising food prices.
The Shanghai Composite Index moved up 0.04 percent to 3,320.73. The Star 50 Index, which tracks technology growth stocks on the SSE’s Nasdaq-style board, climbed 0.66 percent to 1,468.23.
The Shenzhen Component Index declined 0.13 percent to 13,291.32. The ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, was 0.49 percent down at 2,622.64.
The prices of agricultural products are expected to increase due to flooding in southern China and the continued impacts of the Covid-19 pandemic around the world, China Merchants Securities said in a report.
President Xi Jinping stressed on Aug. 11 that food should not be wasted.
Editor: Emmi Laine