Chinese Stocks Defy Profit-Taking to Finish With Slight Gains
Tang Shihua
DATE:  Dec 04 2018
/ SOURCE:  yicai

(Yicai Global) Dec. 4 -- Chinese stocks fended off pressures from traders' profit-taking which arose from yesterday's rapid growth, and completed the trading day with modest gains. 

Chinese indexes started rising in the afternoon to close at their peaks, also averting downward pressures from the neighboring Japanese bourses. The Nikkei Index tumbled 2.39 percent to close at the day's lowest point.

The Shanghai Composite Index was up 0.42 percent to close at 2665.96 points. The day's trading volume was CNY144.1 billion (USD21.1 billion), compared with that of CNY187.8 billion yesterday.

The Shenzhen Component Index gained 0.19 percent to the finish line of 7953.72 points, with CNY186.1 billion worth of stocks traded. The previous day's tally was CNY237.2  billion.

The ChiNext Price Index, mostly comprising small-cap companies, rose 0.43 percent to close at 1,378.75  points. Some CNY55.50 billion worth of equities changed hands, which was less than the CNY69.6 billion yesterday.

Chinese bourses rallied yesterday on the news about a temporary ceasefire regarding trade between China and the US. The two largest economies of the world will resume talks to find a lasting solution to their trade issues. 

Editor: Emmi Laine 

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Keywords:   Japanese market