China Market on Italian turmoil, U.S.-China trade war fears

The Mainland China equity market closed lower for sixth straight session on Wednesday, 30 May 2018, on fears about political uncertainty in Italy. The market was also affected by rekindled concerns over a U.S.-China trade war after the White House's statement Tuesday that a final list of Chinese imports valued at $50 billion to be hit with a 25% tariff will be announced by June 15. Around 200 stocks plunged the maximum allowed 10%, as investors dumped shares across the board. The blue-chip CSI300 index fell 2.1%, to 3,723.37, while the Shanghai Composite Index dropped 2.5% to 3,041.44 points, its lowest close since October 2016. The Shenzhen Composite Index slid 2.8% to 1,736.34, and the start-up board index ChiNext Price lost 2.7%.

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