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Thursday 3 September 2015

Chinese Stocks Recover After Sharp Fall : 03 Sept 2015

Chinese stocks returned to positive territory by midday after dropping sharply during Wednesday's morning session. The benchmark Shanghai Composite Index slipped more than four percent after the opening bell, indicating deepening downward pressure on the world's second largest economy, Xinhua news agency reported. The decline narrowed later, led by a rebound in banking stocks. China CITIC Bank at one point gained more than 1 percent, and Bank of Beijing gained 0.11 percent. Before the bell sounded, ending the morning session, the Shanghai Index had gained 0.31 percent to end at 3,176.34 points, and the Shenzhen Component Index edged up 0.46 percent to close at 10,209.32 points. The ChiNext Index, China's NASDAQ-style board of growth enterprises, gained 1.96 percent to close at 1,926.61 points. Winners outnumbered losers by 602 to 283 in Shanghai, and by 1,001 to 354 in Shenzhen. Shares in the Internet sector and food security led the gains, while oil stocks were among the biggest losers. The government has ramped up efforts to bolster the economy and promote the steady and healthy development of the capital market. On Monday evening, the central government issued a notice encouraging mergers, cash bonuses and share repurchases by listed companies to expedite reform of state-owned enterprises and stabilize the stock market. Official data released on Tuesday showed China's manufacturing purchasing managers' index (PMI) fell to its lowest level in three years in August, at 49.7, also down from 50 for July, suggesting contracting pressure on the manufacturing sector.


Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.

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