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A-Share Market Still Grinding At The Bottom-Daily

CHINA PRESS
MNI (Singapore)

The A share market is still grinding at the bottom with the Shanghai Composite Index likely to fluctuate between 2,900 to 3,200 points, though better than the risk aversion and panic environment in the first four months, the National Business Daily reported citing Fang Yi, chief strategy officer of Guotai Junan. A total of 2,934 A shares fell by more than 4% on Tuesday, accounting for 62.8% of all A shares still trading, and the Shanghai Composite Index saw the biggest drop since May to 3,070.93, the newspaper said. The decline was led by emerging tech stocks, and any rebounds may depend on how global inflation and China-U.S. relations go, the newspaper said citing analysts.

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