Shares end four-day winning streak

Slowing growth in consumer price index and a wait-and-see stance before the release of third-quarter financial reports cited as reasons

Shanghai shares dipped today, ending a four-day rising streak last week, amid a slowing growth of the consumer price index while investors held a wait-and-see stance before the release of third-quarter financial reports.

The Shanghai Composite Index lost 0.36 percent to 3,378.47 points.

Consumer goods such as medical equipment and electronic devices led decliners as the CPI posted a slower growth of 1.6 percent year on year in September from August’s 1.8 percent. It was the eighth straight month that the CPI was below 2-percent level.

Shanghai Kindly Enterprise Development Group Co, a medical device maker, tumbled 9.11 percent to 17.36 yuan (US$2.63), while Will Semiconductor Co fell 7.36 percent to 30.23 yuan.

Shenzhen-based startup board index ChiNext also slumped, going down 2.25 percent. Investors sold off startup companies which have posted losses for the third quarter, dragging down share prices of several big-name companies such as Shenzhen Coship Electronics Co and Wangsu Science&Technology Co.

Special Reports
Top