Yunnan Aluminium news-climbed 5.5 per cent to 8.86 yuan in Shenzhen

Mainland Chinese stocks seesawed between gains and losses on Wednesday morning, with smaller firms falling on concerns that regulators’ pledge to heighten scrutiny of the financial sector will weigh on valuations.

 

The Shanghai Composite Index fell less than 0.1 per cent, or 0.23 point, to 3,186.92. The ChiNext gauge of smaller firms dropped 0.6 per cent to a two-year low.
The People’s Bank of China said Tuesday night it will adhere to a prudently neutral monetary policy.
The China Securities Regulatory Commission also said it will maintain a bottom line of preventing a systemic risk.
The PBOC and the CSRC were the two latest financial regulators to voice support of heightened regulatory supervision.

Among companies on the ChiNext index, Shenzhen Fine Made Electronics Group fell by the 10 per cent-daily limit to 24.80 yuan. Guangdong Hongteo Accurate Technology sank 9.5 per cent to 56.10 yuan.
In Hong Kong, however, the Hang Seng Index rose 0.4 per cent, or 91.93 points, to 26,616.87, extending a 0.2 per cent gain on Tuesday.
The Hang Seng China Enterprises Index, or the H-share gauge of Chinese companies trading in the city, added 0.6 per cent.
Overnight in the US, the S&P 500 Index and the Nasdaq Composite both rose to record levels, while the Dow Jones Industrial Average finished 0.3 per cent lower.
In other early Asian trading, Japan’s Nikkei 225 lost 0.1 per cent. South Korea’s Kospi was little changed.

 

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