China Market falls 1.4%

China share market closed session lower on Wednesday, 23 May 2018, pulled down by energy shares which slumped after Beijing intervened to cool the red-hot coal market. China's state planner ordered utilities this week to stop stockpiling thermal coal and told miners to slash prices, two sources familiar with the matter said, the government's first direct intervention to cool coal prices since mid-2016. The CSI 300 Index - which tracks the big caps listed in Shanghai and Shenzhen - decreased 1.32% to 2,854.58, cancelling out the gains it had made on Monday and Tuesday. The SSE Composite Index also lost 1.41% to 3,168.96, while the Shenzhen Composite Index fell 1.1% to 1,834.71. Meanwhile the Nasdaq-style ChiNext Price Index fell 1.6% to 1,845.97.

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