• Open an account Open an A/C
    • Open an A/C
    • CHOOSE YOUR OPTION(S)
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c

Home > News > Economy News

  • China Market falls as GDP slips
  • October 18,2019  15:31
  • The Mainland China equity market closed steep lower on Friday, 18 October 2019, on concern about economic slowdown after the release of weaker than expected third-quarter growth data. At closing bell, the benchmark Shanghai Composite Index declined 1.32%, or 39.19 points, to 2,938.14. The Shenzhen Composite Index, which tracks stocks on China's second exchange, lost 1.17%, or 19.20 points, to 1,616.72. The blue-chip CSI300 index dropped 1.42%, or 55.84 points, to 3,869.38.

    China Gross domestic product (GDP) expanded 6% in third quarter ended September 2019, compared with 6.2% in the second quarter, official figures showed on Friday, as the country grapples with protracted trade war with the US and slowing domestic demand. The Chinese economy grew at 6.6% in 2018. However, the Industrial Production rose 5.8% year-on-year in September, after growth of 4.4% in August. Meanwhile, consumer spending, as represented by Retail Sales, rose 7.8% year-on-year in September.

    Investors were beginning to fear that GDP growth, which has fallen in every quarter since beginning this year, is reflecting the fact that the various economic stimulus and supportive monetary measures launched by the government and central bank are having a limited effect.

    Britain and the European Union agreed to a severance deal, moving closer toward wrapping up three years of uncertainties after Britons voted to leave the bloc. The deal comes after years of divisive and frequently acrimonious discussions with the EU, including successive days of late-night talks this week.

    At a news conference with Prime Minister Boris Johnson, European Commission President Jean-Claude Juncker said the deal meant there would be no need for a further delay to Britain's departure and negotiations on the future relationship between Britain and the EU would begin as soon as the deal was approved by the UK and European parliaments.

    On the U.S.-China trade front, White House economic adviser Larry Kudlow's commented that he sees momentum to finalize the initial phase of a U.S.-China trade deal outlined last week, adding it may be signed at the APEC forum next month. China hopes to reach a phased agreement in the trade dispute with the United States and cancel tariffs as soon as possible, the Commerce Ministry said on Thursday, adding that trade wars had no winners. Upbeat statements from Beijing and Washington fueled hopes that a phased agreement could ease the long-running U.S.-China trade war that has rattled markets for months.

    Index heavyweight, liquor distiller Kweichow Moutai (600519 CH), lost 0.6% to 1,175,79 yuan. LONGi Green Energy Tech (601012) slumped 3.5% to 23.35 yuan.

    Shares of financials declined the most in the Shanghai bourses, with Ping An Insurance (601318 CH) falling 2.2% to 89.75 yuan, China Merchant Bank (600036 CH) dropping 2.2%, to 36.18 yuan, and Industrial and Commercial Bank of China (601398 CH) easing 0.7% to 5.67 yuan.

    CURRENCY NEWS: China's yuan eased against greenback on Friday, as the People's Bank of China (PBOC) set the midpoint rate at 7.069 per dollar, nearly 0.14% softer than the previous fix of 7.0789. Spot yuan opened at 7.0710 per dollar and was changing hands at 7.0777 by midday, only 5 bps weaker than the previous late session close.

    Powered by Capital Market - Live News

Top News
Global News

Follow us:

Disclaimer: Investment in securities and commodities market are subject to market risks, read all the related documents carefully before investing. SMC Global Securities Ltd. (CIN : U67120DL1997PLC188881): NSE INB/ INF/INE 230771431, BSE INB/INF 011343937, MSEI INB/INF 260771432, CDSL/NSDL-IN-DP-130-2015, SMC Research Analyst Registration- INH 100001849 I SMC Comtrade Ltd.: NCDEX/MCX (8200)/ NMCE/ICEX-INZ000035839 I SMC Investments and Advisors Ltd.: PMS INP000003435 I SMC Insurance Brokers Pvt. Ltd., IRDAI Regi: No: DB 272/04, License No. 289 Valid upto 27/01/2020 I Registered Office: 11/6B, Shanti Chamber, Pusa Road, New Delhi-110005, Tel.: (011) 30111000. For any complaints email – igc@smcindiaonline.com, website: www.smctradeonline.com

Insurance is the subject matter of solicitation • All insurance products sold through SMC Insurance Brokers Pvt. Ltd. • Investment Banking Services provided by SMC Capitals Ltd. • Equity PMS and Wealth management services provided by SMC Investments & Advisors Ltd. • IPOs and Mutual Funds distribution services are provided by SMC Global Securities Ltd. • Financing Services provided by Moneywise Financial Services Pvt Ltd. • Commodity broking services provided by SMC Comtrade Ltd. • Real Estate Advisory services are offered through SMC Real Estate Advisors Pvt. Ltd.

OUR OTHER WEBSITES Go
IMPORTANT LINKS Go
QUICK LINKS
Go

Toll-free : 1800-11-0909
Email: contact@smctradeonline.com

Sitemap
Minus 
Copyright ©2016 SMC. All Rights Reserved | Disclaimer | Privacy Policy | RMS Policy | Copyright| Testimonials| Sitemap| Grievance| design agency: triverse| Powered by C-MOTS Infotech (ISO 9001:2015 certified)
Open An Account

Open my trading account now!  X 

* All fields are compulsory