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The stock markets of China and Hong Kong fell after the regional exchanges

The Chinese stock market closed in the red, as investors, focusing on the weakness of regional and global markets, sold shares of companies in the resource sector, which strengthened after the recent rally.

10.Aug.17 1:44 PM
By Daria Zaytseva


The stock markets of China and Hong Kong fell after the regional exchanges

The CSI300 index, which tracks the value of securities of the largest companies, traded in Shanghai and Shenzhen, decreased by 0.4 % to 3,715.92 points. The Shanghai Stock Exchange's Shanghai Composite Index also fell 0.4 % to 3.261.75 points.

Analysts in China, unlike other countries, did not consider the tension in the relations between North Korea and the United States as the reason for market fluctuations.

Paper large companies in the resource sector fell significantly, while shares of Aluminum Corp of China lost 4.3 % following the auction.

The steel and copper producers also faced pressure, although the prices for these metals remained high. Futures for Chinese steel approached the peak of four and a half years on Thursday, while copper futures in Shanghai remained at the levels that were last recorded in 2013.

Shares of Jiangxi Copper Co Ltd decreased 4.3 %, and Baoshan Iron & Steel Co Ltd 4.8 %.

The Hong Kong stock market fell by more than 1 % on Thursday trading results, copying the losses of regional markets amid tensions on the Korean peninsula, and also as investors recorded profits after the recent market growth.

The index of Hong Kong Stock Exchange Hang Seng fell by 1.1 % to 27.444,00 points. The index of Chinese companies traded in Hong Kong, lost 1.7 %, to close at around 10.782.20 points.

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