Markets continue to slide

Despite better-than-expected trade data, all markets fell.

China’s A-shares finished lower on Thursday, despite stronger-than-expected October trade data.

The Shanghai and Shenzen markets gained in morning trading after the General Administration of Customs announced exports rose 20.1 percent in October year on year and imports surged 26.3 percent.

But both markets closed down.

The Shanghai Composite Index fell for the fourth day this week, with the benchmark index closing 0.22 percent, or 5.71 points, lower at 2,635.6, dragged mainly by non-ferrous metals, media and communications and computers.

The smaller Shenzhen Component Index declined by 0.70 percent to finish at 7,698.02 and the Nasdaq-style ChiNext enterprise board tumbled 1.20 percent to 1,329.59.

Neoglory Prosperity Inc, a Shenzhen-listed company engaged in commercial real estate, tourism real estate development and precision machinery manufacturing, slumped by the daily maximum of 10 percent to close at 7.84 yuan (US$1.13).


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