The Shanghai composite slipped 0.82 percent to close at about 2,576.65 and the Shenzhen composite was lower by 0.813 percent to finish the day at around 1,312.55. In Hong Kong, the Hang Seng index declined by more than 1 percent in its final hour of trade. Ahead of that speech, one economist told CNBC’s “Street Signs” cautioned investors not to expect a “dramatic announcement or surprise by the Chinese government.” “First of all, that’s the style of the Chinese government,” said Chi Lo, senior e
Asian stocks decline following Wall Street slump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-18 Authors: eustance huang
Keywords: news, cnbc, companies, composite, chinese, street, volatility, decline, wall, xi, wests, wants, china, slump, asian, stocks, following, investors, economist, watched
The mainland Chinese markets saw losses on Tuesday. The Shanghai composite slipped 0.82 percent to close at about 2,576.65 and the Shenzhen composite was lower by 0.813 percent to finish the day at around 1,312.55.
In Hong Kong, the Hang Seng index declined by more than 1 percent in its final hour of trade.
In an address to commemorate the 40th anniversary of China’s economic reforms on Tuesday, Xi called for his country to “stay the course” on its current path of reform and emphasized that “no one is in a position to dictate to the Chinese people what should or should not be done.”
Xi’s remarks were being closely watched as investors sought clues on whether the Chinese leader’s idea of progress aligned with the West’s increasingly vocal demands for less state control, which could have implications on whether the U.S. reaches a trade deal with China by the end of its 90-day tariff ceasefire.
Ahead of that speech, one economist told CNBC’s “Street Signs” cautioned investors not to expect a “dramatic announcement or surprise by the Chinese government.”
“First of all, that’s the style of the Chinese government,” said Chi Lo, senior economist of Greater China at BNP Paribas Asset Management.
Chi also added that Beijing “really wants stability on all fronts to go ahead” instead of causing any potential excitement or volatility which could “hurt sentiment towards China.”
Company: cnbc, Activity: cnbc, Date: 2018-12-18 Authors: eustance huang
Keywords: news, cnbc, companies, composite, chinese, street, volatility, decline, wall, xi, wests, wants, china, slump, asian, stocks, following, investors, economist, watched
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