Chinese shares close lower Thursday

0 Comment(s)Print E-mail Xinhua, October 18, 2018
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Chinese stocks closed lower Thursday with the oil and coal industries leading the decline.

The Shanghai Composite Index lost 2.94 percent at 2,486.42 points, while the Shenzhen Component Index closed 2.41 percent lower at 7,187.49 points.

Combined turnover on the two bourses stood at 239.67 billion yuan (about 34.6 billion U.S. dollars), down from 258.54 billion yuan the previous trading day.

Most shares declined, with losers outnumbering gainers 1,300 to 105 on the Shanghai bourse and 1,876 to 164 on the Shenzhen bourse.

The majority of industries saw a full-house tumble on Thursday, with the oil and coal sectors being the biggest losers, down 5.22 percent and 4.9 percent, respectively.

China National Petroleum Corporation (CNPC) fell 7.92 percent to end at 8.37 yuan per share, while coal and electricity-dealing China Shenhua Energy Company Limited dipped 5.97 percent to close at 19.05 yuan per share.

The ChiNext Index, China's NASDAQ-style board of growth enterprises, lost 2.18 percent to close at 1,205.03 points. 

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