Tuesday, 02 June 2020
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China shares end flat; healthcare firms drag on accounting check worries
Wednesday, 5 June 2019 14:55 WIB | MARKET UPDATE | Bursa ChinaShanghai composite

China's main stock market indexes ended flat on Wednesday as Beijing™s plans to conduct accounting checks pulled healthcare firms lower, offsetting a regional rebound sparked by the U.S. central bank™s comments that raised hopes of an interest rate cut.

At the close, the Shanghai Composite index was down 0.03% at 2,861.42. The blue-chip CSI300 index was down 0.04%, with its financial sector sub-index higher by 0.41%, the consumer staples sector down 0.52% and the real estate index up 2.28%.

The healthcare sub-index slumped 4.07% after a notice on the website of China™s Ministry of Finance said the country will carry quality checks on accounting information in the pharmaceuticals industry in June and July.

Offering a boost to investor sentiment, Chinese President Xi Jinping said the country™s economy is stable, healthy and well placed to meet all risks and challenges.

Source: Reuters

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