Stocks in China fell on Thursday as exports dropped for the first time in seven years and inflation slowed, Bloomberg reported. The Shanghai Composite Index dropped 2.3% to 2,031.68 as evidence mounts of weakening growth in the world’s fourth-largest economy. China Railway Erju, a unit of China Railway Group, dropped 6.6% while Shanghai Pudong Development Bank, Citigroup’s Chinese partner, lost 3.7%. Baoshan Iron and Steel, the country’s largest steelmaker, fell 3.7% on reports that steel product exports decreased by 36% in November. But China’s airlines surged on news that they would receive funds from the government. China Eastern Airlines and China Southern Airlines both jumped by the 10% daily limit as trading resumed after they received anticipated bailout funds from the government.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved