BEIJING (dpa-AFX) - The China stock market has moved lower now in back-to-back sessions, sliding more than 10 points or 0.3 percent along the way. The Shanghai Composite Index now rests just above the 2,815-point plateau, although the market figures to find traction on Thursday.
The global forecast for the Asian markets is positive thanks to a breakthrough in talks between Eurozone finance ministers and Greece to unlock 10.3 billion euros in new bailout loans. The European and U.S. markets were higher and the Asian markets figure to follow that lead.
The SCI finished slightly lower on Wednesday following losses from the resource stocks and the airlines.
For the day, the index dipped 6.58 points or 0.23 percent to finish at 2,815.09 after trading between 2,807.75 and 2,843.17. The Shenzhen Composite Index slid 4.37 points or 0.24 percent to end at 1,800.23.
Among the decliners, Juneyao Airlines tumbled 9 percent and China Southern Airlines skidded 4.6 percent.
The lead from Wall Street is firm as stocks moved higher again on Wednesday as the NASDAQ and the S&P 500 hit their best closing levels in a month.
The Dow climbed 145.46 points or 0.8 percent to 17,851.51, while the NASDAQ advanced 33.84 points or 0.7 percent to 4,894.89 and the S&P 500 rose 14.48 points or 0.7 percent to 2,090.54.
Greece got more good news when it was reported that a compromise was reached on further debt relief that should allow the International Monetary Fund to participate in the third rescue program.
An increase by the price of crude oil also generated buying interest after the Energy Information Administration said crude oil stockpiles slumped by 4.2 million barrels last week.
Copyright RTT News/dpa-AFX