China Stocks fall on earning concerns

The Mainland China share market finished session lower on Thursday, 18 November 2021, on concerns about weaker earnings amid a slowdown in the world's second-largest economy and as quarterly results from Baidu and Bilibili rekindled concerns about the impact of harsh regulations by government officials over the past year.

At close of trade, the benchmark Shanghai Composite Index declined 0.47%, or 16.65 points, to 3,520.71. The Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 0.65%, or 16.15 points, to 2,460.86. The blue-chip CSI300 index was down 1%, or 48.13 points, to 4,837.62.

China stocks have been under heavy pressure, due to an ongoing government crackdown focused on antitrust issues and other forms of unfair competition. Many China stocks have seen their valuations cut in half since the crackdown began.

 

Baidu reported quarterly results Wednesday. Baidu warned that China's regulatory crackdown and the pandemic would weigh on advertising sales in the coming quarters.

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