China’s stock markets fell on Tuesday, the first trading day after new US and Chinese tariffs on each other’s goods came forth while property firms are worries about the fact that a property pre sale system may be scrapped. The Shanghai Composite Index was down byn16.35 points or 0.6 percent at 2797.48. shares of Chinese property developers sank with real estate losing 4.4 %percent after six provinces were asked to decide whether to retain or scrap a property pre sale system that makes it possible for developers to secure funds before project completion. Property shares had fallen sharply in Hong Kong. The United States and China imposed fresh tariffs on each other’s goods and the world’s biggest economies did not show any signs of backing out from an increasingly bitter trade dispute that is expected to hit the global markets.
Chinese airlines had expressed worries and scepticism over high oil prices. About 11.20 billion shares were traded on Shanghai exchange, roughly 101.5 percent of the market’s30 day moving average of 11.03;billion shares a day. The Shanghai stock exchange is currently above its 50 day moving average and below its 200 day moving average. The price to earning ratio of Shanghai index was 11.83;as of the last full trading day and it must be mentioned here that the dividend yield was 2.7 percent.
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