ecns [expanded by feedex.net]: China's major stock index retreats after U.S., European market losses

ecns [expanded by feedex.net]

ecns

China's major stock index retreats after U.S., European market losses
http://www.ecns.cn/business/2016/10-12/229958.shtml
Oct 12th 2016, 16:55



Chinese shares closed after a mixed performance on Wednesday, with the benchmark index retreating after overnight declines on the U.S. and European stock markets.
The Shanghai Composite Index slipped 0.22 percent to close at 3,058.5 points on Wednesday, ending rises for four consecutive trading days.
U.S. stocks suffered big losses Tuesday as Alcoa kicked off the third quarter earnings season by missing estimates on both the top and bottom line. The Dow Jones Industrial Average dropped 200.38 points, or 1.09 percent, to 18,128.66.
European equities also fell Tuesday. The German benchmark DAX index on the Frankfurt Stock Exchange fell 0.44 percent, while British FTSE 100 Index dipped 0.38 percent.
Chinese steel firms led declines on Wednesday. Shares of Baoshan Iron & Steel lost 3.45 percent, while Beijing Shougang dropped 2.75 percent.
Ship builders also fell, with shares of China CSSC Holdings down 1.63 percent.
Textile machinery producers performed well. Xi'an Typical Industries, a sewing machine manufacturer, rose by 2.57 percent.
The smaller Shenzhen Component Index closed 0.06 percent higher at 10,788.59 points on Wednesday. The ChiNext Index, China's NASDAQ-style enterprises, lost 0.05 percent to close at 2,209.69 points.
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