Chinese Stocks Narrowed Losses as Traders Fell for IMF Growth Forecast
Tang Shihua
DATE:  Apr 10 2019
/ SOURCE:  yicai

(Yicai Global) April 10 --  China's mainland stock markets rebounded as investors got over the low  tides that dried up Western markets yesterday, and started buying into  China's sunnier economic outlook. 

The Shanghai  Composite Index recovered some its earlier dips of over 1 percent to log  a 0.39 percent drop at 3,226.93 points by lunch break. The Shenzhen  Component Index fell 0.27 percent down to 10,407.96, after sliding  nearly 1 percent earlier. The ChiNext Index, which tracks  growth  enterprises in Shenzhen, closed 0.71 percent down at 1,728.74, also  rebounding from intraday lows.

The US and European  markets fell in unison yesterday, as IMF lowered the global economic growth rate expectation as well as  the latest US-EU trade row dragged market confidence, the dreadful  sentiment was spillover to the major asia pacific markets, as almost all  markets in the region trade in nagative territory in morning session. 

But Chinese investors find certain solace in the brightening local economic outlook as the International  Monetary Fund lifted its gross domestic product forecast for China 0.1  percentage point to 6.3 percent, citing recent progress made in the  China-US trade talks, according to its latest World Economic Outlook  report. 

Editor: Emmi Laine 

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