News Formal

Shanghai stocks have worst week in 5 months on policy worries, foreign selling

  • 📰 staronline
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 75%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

SHANGHAI: Shanghai shares managed to end higher on Friday, but still suffered their worst weekly drop in five months, as China's better-than-expected GDP data fuelled worries over the pace of policy easing, while foreign investors cashed in after a bull run.

At close, the blue-chip CSI300 index was up 0.6% to 4,544.70 points, while the Shanghai Composite Index had added 0.1% for 3,214.13 points.

China stocks posted their biggest fall in more than five months on Thursday, as investors cooled a buying spree on worries of policy tightening after economic growth in the second quarter beat expectations. However, analysts and fund managers said the slump did not mark the end of the bull run and could offer good opportunities to buy on the dip.

"Worries over the pace of the country's policy easing are one of the factors behind the drop on Thursday, but are not sufficient to change the rising trend in the market," he said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian markets look for fresh upswing Friday after US market dipTOKYO: Asian markets appear set to open with a firmer tone on Friday, shrugging off an overnight fall in U.S. stocks as the United States prepares to debate fresh economic stimulus to see the country through its coronavirus outbreak.
Source: staronline - 🏆 4. / 75 Read more »