Chinese stocks, fresh from logging the largest one-day percentage gain since early July yesterday, are trading mixed today.
Despite news that Chinese bank lending to non-bank financials surged in July and an unexpected currency devaluation from the PBOC, the benchmark Shanghai Composite index finished the morning session down 0.4%.
Earlier in the day the index was as much as 0.64% higher.
Repeating the price action seen yesterday, the telcos are outperforming – up 1.65% – while financials – down 1.17% – are the session’s laggards.
Outside of the composite the price action is mixed with small-cap stocks outperforming their larger peers.
The CSI 300 and SSE 50, indices comprising large-cap stocks, are lower by 0.48% and 0.97% respectively.
Partly offsetting those declines the Shenzhen Composite and CSI 500, brimming with smaller firms, are higher by 0.26% and 0.23%.
Trade will resume at 3pm AEST.
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