The Mainland China share market finished session lower on Friday, 30 July 2021, as investors risk-off sentiments grappled with an uncertain regulatory landscape, given the range of industries targeted by the government including derailing Ant Group's blockbuster IPO to rules curbing monopolistic practices across the internet space, reducing leverage in the property industry and reforming the private education firms.
Investors remained cautious even after regulators in Beijing said its policy actions were meant to improve the sector, while commentaries and reports in state-run media sought to shore up sentiment.
At closing bell, the benchmark Shanghai Composite Index declined 0.42%, or 14.37 points, to 3,397.36. The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose marginal 0.06%, or 1.45 points, to 2,385.82. The blue-chip CSI300 index fell 0.81%, or 39.10 points, to 4,811.17.
Liquor stocks declined in the mainland markets on concerns sales will be affected by limits on social gatherings.
Kweichow Moutai, the world's most valuable liquor distiller, fell 4.1 per cent to 1,678.99 yuan, the lowest since mid-November. Its rival Wuliangye Yibin slid 6.1 per cent to 220.75 yuan. Tsingtao Brewery lost 8.8 per cent to 80.28 yuan.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU