China shares closed in the red

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US, WASHINGTON (ORDO NEWS) — China stocks closed negatively on Thursday, but losses were limited as investors expected further incentive measures by the state to shield the world‘s second largest economy from the effects of coronavirus.

The Shanghai Composite Shanghai Stock Exchange Index fell 1% to 2.702.13 points.

The blue chip index CSI300 lost 1.3% to 3,589.09 points.

Both indices were down more than 3% at the start of the session, following other global markets.

Short-term growth in Class A stocks is largely driven by improved liquidity as a result of high turnover, as market participants are fairly confident of political support from Beijing, said Song Jin, an analyst at Nomura Orient International Securities.

Chinese scientists and health experts involved in the fight against coronavirus believe the worst is over, disagreeing with warnings that the disease could become seasonal or that a more deadly “second wave” could fall later this year.

In Wuhan, the focus of the epidemic, on Wednesday for the first time since the outbreak, there were no new cases of “internal” transmission of the virus. However, the “imported” cases reached a record number – 34. Moreover, for five consecutive days their number exceeded the number of cases of transmission of infection within the country.

The Hong Kong Hang Seng Index fell 2.6% to 21.709.13 points, while the Hang Seng China Enterprises Index fell 2.74% to 8.559.64 points.


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