China Stocks Mixed on Wednesday
The Shanghai Composite rose 0.15% to around 2,966 while the Shenzhen Component fell 0.6% to 9,350 in mixed trade on Wednesday, with mainland stocks struggling for direction as weak global sentiment weighed on the market.
US stocks tumbled overnight as investors locked in profits and dialed back bets on the scale of interest rate cuts from major central banks this year.
On Tuesday, a private survey showed that China's manufacturing sector growth unexpectedly accelerated in December, in contrast with official data over the weekend indicating the country’s manufacturing activity contracted further.
Notable gains were seen from heavyweight firms such as iSoftStone (2.3%), Xinlong Scientific (4.6%) and Jiangxi Special (5.3%), while losses were seen from Goertek (-3.1%), COL Group (-1.3%) and Hubei W-OLF (-9.9%).
US stocks tumbled overnight as investors locked in profits and dialed back bets on the scale of interest rate cuts from major central banks this year.
On Tuesday, a private survey showed that China's manufacturing sector growth unexpectedly accelerated in December, in contrast with official data over the weekend indicating the country’s manufacturing activity contracted further.
Notable gains were seen from heavyweight firms such as iSoftStone (2.3%), Xinlong Scientific (4.6%) and Jiangxi Special (5.3%), while losses were seen from Goertek (-3.1%), COL Group (-1.3%) and Hubei W-OLF (-9.9%).