Chinese stocks opened lower on Thursday, with the benchmark Shanghai Composite Index down 0.19 per cent to open at 3,054.98 points.
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Official data released Wednesday showed a bigger-than-expected decline in imports, which suggests that domestic demand is still weak, according to Australia & New Zealand Banking Group.
Jiangxi Copper Co slipped 2.41 percent to 16.22 yuan (US$2.43).
Investors are paying close attention to China’s gross domestic product data for the second quarter and also a possible cut in banks’ reserve requirement ratio, an analyst said.
“As it edges up, the market is running into greater and greater resistance”, said Shen Zhengyang, a strategist at Northeast Securities Co in Shanghai.
Jiangxi Copper and China Molybdenum Co fell at least 2.3 per cent on the mainland.
The index overall closed with gains of 238.69 points and 1.12% at 21,561.06, while the China Enterprises index rose 1.13% for the day. Shaanxi Coal Industry Co. dropped 2.3 percent.
Total volume of A shares traded in Shanghai was 10.02 billion shares, while Shenzhen volume was 13.27 billion shares. The stock has a weekly performance of 4.9 percent and is -8.94 percent year-to-date as of the recent close.
The Hang Seng index edged slightly lower at the open before making some headway during the morning session and holding little changed into the session break. Real estate, textiles, equipment and mining shares rose as June industrial production increased 6.2 percent from a year earlier, higher than expected.
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Total trading volume of companies included in the HSI index was 1.9 billion shares.
