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Chinese Stocks Close Lower Thursday-Oct 19
 

Chinese shares slipped Thursday, after the official release of a slew of economic indicators, with sectors including plane production and glass making leading the declines.

The benchmark Shanghai Composite Index fell 0.34 percent to finish at 3,370.17. The Shenzhen Component Index lost 0.83 percent to close at 11,189.55.

Combined turnover on the two bourses stood at nearly 430 billion yuan (around 65 billion U.S. dollars), down from 442.1 billion yuan the previous trading day.

Official data showed a slight retreat in economic growth. The National Bureau of Statistics (NBS) said the country's GDP expanded 6.8 percent year on year in July-Sept., a marginal slowdown from 6.9 percent in the second quarter.

But the growth rate was still well above the government's target for the year of 6.5 percent.

NBS spokesperson Xing Zhihong told a press conference that improvements had been made in economic structure and growth quality and the economic outlook remained positive.

Aircraft manufacturers suffered the biggest decline with the sub-index down 2.48 percent, followed by 2.08 percent for glass makers and 1.93 percent for coal mining companies. Bucking the trend, distilled spirit producers rallied.

The ChiNext Index, which tracks China's NASDAQ-style enterprises, fell 0.3 percent to close at 1,862.61.


(www.chinaview.cn 2017-10-20)
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