BEIJING (dpa-AFX) - The China stock market has ended lower in two straight sessions, giving away more than 30 points or 1 percent along the way. The Shanghai Composite Index now rests just shy of the 3,200-point plateau and it's in line for further damage again on Tuesday.
The global forecast for the Asian markets is mixed and flat to lower ahead of the start of earnings season. The European markets were up and the U.S. markets were down and the Asian markets figure to split the difference.
The SCI finished modestly lower on Monday following losses from the financials, properties, insurance companies and resource stocks.
For the day, the index shed 15.72 points or 0.49 percent to finish at 3,195.52 after trading between 3,166.98 and 3,204.03. The Shenzhen Composite Index rose 8.65 points or 0.43 percent to end at 2,022.52.
Among the actives, Industrial and Commercial Bank of China dropped 0.84 percent, while Bank of China fell 1.52 percent, Agricultural Bank of China sank 0.98 percent, China Construction Bank declined 2.09 percent, China Merchants Bank cratered 7.35 percent, Bank of Communications was down 1.55 percent, China Life Insurance stumbled 2.78 percent, Ping An Insurance slid 2.69 percent, Jiangxi Copper and Aluminum Corp of China (Chalco) both tumbled 2.62 percent, Yankuang Energy plummeted 7.28 percent, PetroChina surrendered 2.53 percent, China Petroleum and Chemical (Sinopec) retreated 1.38 percent, Huaneng Power surged 5.32 percent, China Shenhua Energy plunged 3.42 percent, Gemdale dropped 4.94 percent, Poly Developments slumped 4.81 percent, China Vanke weakened 3.62 percent and China Fortune Land gave away 3.39 percent.
The lead from Wall Street ends up slightly soft as the major averages spent most of Monday bouncing back and forth across the unchanged line before finally finishing barely in the red.
The Dow shed 39.54 points or 0.11 percent to finish at 34.411.69, while the NASDAQ dipped 18.72 points or 0.14 percent to close at 13,332.36 and the S&P 500 fell 0.90 points or 0.02 percent to end at 4,391.69.
The choppy trading on Wall Street came as traders seemed reluctant to make significant moves ahead of the release of a slew of earnings news this week.
In economic news, the National Association of Home Builders reported continued deterioration in U.S. homebuilder confidence in April.
Crude oil futures settled at a three-week high on Monday as prices rebounded amid concerns about tight supply due to the ongoing Russian invasion of Ukraine and news about the shutdown of Libya's biggest oil field. West Texas Intermediate Crude oil futures for May ended higher by $1.26 or 1.2 percent at $108.21 a barrel.
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