Mubasher: Chinese share indices closed Thursday on a weaker note, weighed by the cautious outlook of the U.S. Federal Reserve for economic growth.
Shanghai Composite Index fell by 2.9% to 2,655 points.
China’s stocks shrugged off the central bank’s injection of liquidity amounting to 590 billion yuan ($90 billion) into the country’s capital market, the highest rate ever since 2013.
Chinese investors anticipate a surge in cash outflows, which may affect corporate financial results due to slow economic growth and yuan’s fluctuating exchange rate, Mohammed Shammari, financial analyst, explained.
In china, all financial institutions and banks will start lunar year vacation on 7 February.
