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China shares edge lower as hopes fade for near-term stimulus boost


Mainland Chinese stocks fell on Thursday, as hopes for stronger near-term policy support faded after the central bank reiterated a cautious approach to monetary easing.

The broad-based CSI 300 Index fell 0.1 per cent to 4,625.80 by 10am local time, while the Shanghai Composite Index rose 0.1 per cent. Hong Kong’s market is closed on Thursday and Friday for the Christmas holiday.

Consumer electronics stocks led gains on the CSI 300, while energy metals firms were the biggest decliners.

Among the notable gainers, home-grown chipmaker Semiconductor Manufacturing International Corporation (SMIC) advanced 1.5 per cent to 125.30 yuan, while insurer Ping An Insurance added 1.7 per cent to 70.27 yuan.

Chinese baijiu maker Kweichow Moutai rose 0.4 per cent to 1,406.99 yuan and peer Luzhou Laojiao added 0.4 per cent to 120.37 yuan.

Among major losers, battery maker Contemporary Amperex Technology (CATL) fell 1.1 per cent to 371.60 yuan, while biopharmaceutical firm Sichuan Biokin Pharmaceutical declined 1 per cent to 338.58 yuan, and printed circuit boards producer Shennan Circuits dropped 2.8 per cent to 222.92 yuan.


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