Chinese shares dip Tuesday

Source: Xinhua| 2018-03-13 16:28:10|Editor: Yurou
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BEIJING, March 13 (Xinhua) -- Chinese stocks ended lower Tuesday, dragged down by weak performance of financial and liquor shares.

The benchmark Shanghai Composite Index went down 0.49 percent to close at 3,310.24 while the Shenzhen Component Index closed 0.75 percent lower at 11,241.41.

Combined turnover on the two bourses shrank to 502.4 billion yuan (about 79.5 billion U.S. dollars), down from 607.1 billion yuan the previous trading day.

The Shanghai index fluctuated during the day, registering modest gains in the morning session with the banking sector rising, and fell back in the afternoon with the financial heavyweights losing momentum.

Insurance companies were among those that suffered the most. Ping An Insurance, an insurance conglomerate with market capitalization over 1.2 trillion yuan, lost 2.39 percent.

Liquor makers also witnessed widespread losses. Kweichow Moutai, a leader of the industry, saw its shares down by 1.88 percent.

The ChiNext Index, which tracks China's NASDAQ-style enterprises, lost 0.52 percent to close at 1,872.68 Tuesday.

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