• MTS Futures News_PM_20160504

    4 May 2016 | SET News


China stocks closed roughly flat on Wednesday, as the Shanghai market came under pressure near key technical resistance and after signs of subdued manufacturing activity.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.1 percent, to 3,209.46, while the Shanghai Composite Index closed flat, at 2,991.27 points. For Shanghai, 3,000 is a key resistance level.

Shanghai market trading volumes have hovered near 4-month lows in recent sessions, restrained by a lack of strong conviction over China's economic recovery, while the market's rebound since early March appears to have lost steam.

Most sectors fell in China on Wednesday, with resource shares among the biggest decliners as the country's commodities futures market continued to cool in the wake of a regulatory crackdown on speculation.

Hong Kong shares fell to a three-week closing low on Wednesday, tracking sluggish trading in Asian markets as worries about global growth and creeping deflation resurfaced.

The Hang Seng index fell 0.7 percent, to 20,525.86, while the China Enterprises Index lost 0.6 percent, to 8,697.37 points.

Energy, raw material and financial shares led main indexes lower.

Index heavyweight HSBC Holdings Plc dropped 2.5 percent. The lender stuck to its promise of higher dividends on Tuesday, after a 14 percent profit drop fuelled doubts among some investors about the bank's ability to increase payouts.


Reference: Reuters

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