BUSINESS Chinese shares retreat Monday

BUSINESS

Chinese shares retreat Monday

Xinhua

16:32, July 02, 2018

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Investors look at an electronic board showing stock information at a brokerage house in Shanghai, China June 20, 2018. (Photo: VCG)

BEIJING, July 2 -- Chinese shares retreated Monday after rebounding last Friday, with the major index losing more than 2 percent.

The benchmark Shanghai Composite Index lost 2.52 percent to end at 2,775.56 points, the lowest in about 28 months.

The Shenzhen Component Index closed 2.13 percent lower at 9,179.8 points.

Combined turnover stood at 357.64 billion yuan (about $53.83 billion), slightly up from 343.2 billion yuan the previous trading day.

Chinese stocks went through sharp corrections last week, with the Shanghai index hitting a two-year low. Listed firms in the steel and coal sectors saw their shares tumble.

The country's central bank said last Thursday it will keep liquidity at a reasonable and ample level and continue to implement a prudent and neutral monetary policy.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, lost 1.14 percent to close at 1,588.37 points Monday.

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