SHANGHAI :
Chinese Stocks Hit Lunch Lower as Investors Cash In on Build Up to LPR Cut
Tang Shihua
DATE:  Nov 21 2019
/ SOURCE:  yicai

(Yicai Global) Nov. 21 -- China's big three mainland stock indexes went into lunch lower today as investors continue to cash in on gains resulting from anticipation of a cut to the loan prime rate earlier this week.

The Shanghai Composite Index was down 0.39 percent at 2,899.56 at the lunch break, while the Shenzhen Component Index ended 0.47 percent lower at 9,763.35. The ChiNext Price Index, which tracks Shenzhen-listed growth stocks, was also down 0.28 percent at 1,714.84.

Investors anticipated the central bank cutting the LPR for one-year and five-year loans earlier this week and the increase in buying bumped up the benchmarks. But when the People's Bank of China reduced the LPR by 5 basis points yesterday, many began to cash in on their gains and pushed the market back down.

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