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China Stocks fall on anti-speculation crackdown

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The Mainland closed lower on Monday, 17 April 2017, as investors dumped stocks across the board after Chinese authorities promised to curb speculation and prevent investor misdeeds, shrugging off better-than-expected GDP data for first quarter. A flurry of economic data released on Monday morning, including better-than-expected economic growth in the first quarter, was largely priced in. Main sectors fell broadly led by real estate stocks.

The benchmark Shanghai Composite Index lost 0.8% or 23.9 points to end at 3,222.2. The large-cap CSI300 dropped 0.2% or 6.6 points to 3,479.9. The Shenzhen Component Index closed 0.7% lower to 10,450.9, and the startup board ChiNext index lost 1% to 1,868.3.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 17 2017. 17:42 IST