China Stocks fall on anti-speculation crackdown

The Mainland China equity market 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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