Chinese stocks dip as investors turn cautious

Zhu Shenshen
Markets await news on macro-economic policies and  Sino-US trade talks. 5G stocks jump as carriers roll out commercial service.
Zhu Shenshen

Stock indexes ebbed on Thursday as investors took a wait-and-see attitude ahead of policy news and the latest results of China-US trade talks.

The Shanghai Composite Index closed down 0.35 percent at 2,929.06 points. The Shenzhen Component Index closed 0.48 percent lower at 9,635.33 points, while the ChiNext dropped 0.76 percent. 

Combined trading volume of the two main indexes was 451.3 billion yuan (US$64.5 billion), compared with 467.3 billion yuan the previous trading day.

Many investors are waiting for trade negotiation results and Chinese macro-economy policies, analysts said.

Blockchain, pork, agriculture and electronic payment sectors led the decline on Thursday.

5G-related shares jumped as mobile carriers released 5G packages today, marking the start of commercial 5G use.

The country has been stepping up development of super-fast wireless technology infrastructure since authorities issued 5G licenses to operators in June. By 2025, 5G-related investment will hit 1.2 trillion yuan, according to government officials.

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