News Formal

China stocks end lower as Apple warning raises economic impact fears

  • 📰 staronline
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 75%

United States News News

United States United States Latest News,United States United States Headlines

SHANGHAI/SINGAPORE: China's blue-chip stocks ended lower on Tuesday as Apple warned that it was unlikely to meet its March quarter sales forecast as the Covid-19 coronavirus slowed production and weakened demand in China.

The blue-chip CSI300 index closed 0.5% lower, with its financial sector sub-index shedding 1%. The Shanghai Composite index was flat at 2,984.97.

The impact of the coronavirus outbreak on China's various industries will mainly show up in February, a vice chairman of the country's state assets regulator said, as containment measures disrupt production and supply chains. The tech-heavy start-up board index ChiNextP extended its climb to end 1.1% higher, a more than three-year high. Investors expect China's continued stimulus to benefit those firms more.

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 US
 

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

United States United States Latest News, United States United States Headlines

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

Covid-19 infections slow in China as Apple becomes latest business casualty | Malay MailBEIJING, Feb 18 — The number of new coronavirus infections in mainland China fell below 2,000 today for the first time since January, although global experts warn it is still too early to say the outbreak is being contained. The economic fallout from the epidemic spread to US technology titan...
Source: malaymail - 🏆 1. / 86 Read more »

Tech stocks slide on Apple warning, banks extend reboundKUALA LUMPUR: A warning from Apple Inc overnight that it would not meet its revenue target for the first quarter owing to slowed production and demand in China sent global equities lower as investors fretted over the impact of the Covid-19 outbreak.
Source: staronline - 🏆 4. / 75 Read more »