China markets retreat as oil price drops
Chinese markets retreated, led by cleantech shares, following a drop in the price of crude oil.
The Shanghai Comprehensive Index lost 0.44 percent to 2766.35. The SME Comprehensive Index slid 0.21 percent to 4233.29.
The Hang Seng Index retreated 0.40 percent to 18502.77. The Hang Seng Growth Enterprises Index lost 0.52 percent to 559.94. The Hang Seng China Enterprise Index declined 1.09 percent to 10706.68.
Taiwan's TAIEX Index dropped 1.55 percent to 6786.06.
PetroChina Co. (SH: 601857;HK:0857), China’s largest oil producer, dropped 1.74 percent on Shanghai trading and 1.08 percent on Hong Kong trading.
China Shenhua Energy Co.(SH:601088; HK:1088), the nation’s largest coal procucer, declined 0.92 percent on Shanghai and 0.93 percent on Hong Kong.
Hopson Development Holdings (HK:0754), a Hong Kong-based developer of real estate in China, plunged 9.41 percent. Poly Real Estate (SH:600048), China’s second-largest listed developer, dropped 2.01 percent.
Cleantechs drop
Jiangsu Guotai International Group Guomao Co. (SZ:002091), China’s largest producer of lithium battery electrolyte, dropped 5.7 percent.
Xinjiang Goldwind Science & Technology Co. (SZ:002202), China’s second-largest supplier of wind turbines, dropped 2.94 percent. Dofang Electric Co. (SH:600875), the third-largest, lost 2.7 percent.
China Singyes Solar Technologies (HK:0750) dropped 3.13 percent. Shenzhen Topraysolar Co.(SZ:002218) declined 3.03 percent.
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