Thursday, 18 October 2018
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China stocks slip on downbeat data, trade war worries

China stocks eased on Thursday as disappointing economic data and renewed trade war fears hit investor sentiment.

The blue-chip CSI300 index closed down 0.4 percent at 3,773.37 points, while the Shanghai Composite Index 3,044.16 slipped 0.2 percent to 3,044.16 points.

China™s economy is finally starting to cool under the weight of a multi-year crackdown on riskier lending that is pushing up borrowing costs for companies and consumers, with data on Thursday pointing to a broad slowdown in activity in May.

The country™s central bank sparked concerns over the health of the economy earlier in the day when it left short-term rates unchanged, surprising markets which had expected it to follow a hike by the Federal Reserve, as it has tended to do.

Investors were also kept in check amid concerns about U.S. threats to impose tariffs of billions of dollars on Chinese goods.

Source: Reuters

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