Home ›› 16 Sep 2021 ›› Stock
China stocks closed lower on Wednesday as weak factory and retail activity data weighed on sentiment, while the fresh COVID-19 outbreaks also raised concerns over China’s economic recovery.
The blue-chip CSI300 index fell 1.0per cent to 4,867.32, while the Shanghai Composite Index lost 0.2 per cent to 3,656.22.
China’s factory and retail sectors faltered in August, with output and sales growth hitting one-year lows as fresh coronavirus outbreaks and supply disruptions threatened the country’s economic recovery.
“We expect Beijing to use more general easing measures to offset its tightening stance on the property sector and carbon emissions,” Nomura analysts said in a note.
The consumer staples sub-index and the tourism sub-index shed around 2per cent, as China fights the latest coronavirus outbreak in the southeast Fujian province, and some cities have issued travel warnings ahead of major holidays.
