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Felicia Tan
June 17 20:43

Chinese stocks are sedentary amid new restrictions in Beijing

Chinese stocks closed almost unchanged on Wednesday as investors remain cautious due to travel and travel restrictions in Beijing to curb the spread of coronavirus.
The Shanghai Composite index rose by 0.14% to 2.935.87 points, while the CSI300 blue chip index added 0.08% to 4.017.59 points.
The financial sub-index fell by 0.27%, the consumer goods sector by 0.07%, the real estate index by 0.51%, and the health sector by 2.32%.
The index of ChiNext Composite startups grew by 0.16%.
The rise was led by Nanjing Iron & Steel Co Ltd, Shanghai Shenqi Pharmaceutical Investment Management Co Ltd and Tonghua Grape Wine Co Ltd, which rose by 10.15%, 10.09% and 10.09% respectively.
The loosers were Shanghai Shentong Metro Co Ltd, Lifan Industry Group Co Ltd and Yijiahe Technology Co Ltd, which lost 10%, 7.51% and 6.64% respectively.
The Hong Kong Hang Seng Index rose 0.56% to 24,481.41 points, while the Hang Seng China Enterprises Index added 0.43% to 9,909.63 points.
Beijing has cancelled dozens of flights, closed schools and isolated some areas, intensifying efforts to contain a new outbreak of coronavirus that has increased fears of a second wave of the epidemic.
Health officials reported 31 new confirmed cases on 16th of June, bringing the total number of cases since Thursday to 137, the highest since early February.
Investor sentiment has also deteriorated amid signs of growing geopolitical tension. The Indian army reported on Tuesday the death of 20 of its soldiers as a result of clashes with Chinese forces in the disputed border area.