Chinese Equities Had Tumultuous Week From Trade Truce to Huawei CFO Arrest
Tang Shihua
/SOURCE : yicai

(Yicai Global) Dec. 7 -- Chinese stock markets have gone through a volatile five-day period, as the week started with optimistic trade prospects after the G20 summit where presidents Xi Jinping and Donald Trump called a truce. Rises in gains slowed down after it was reported yesterday that the daughter of Chinese telecoms giant's founder Ren Zhengfei has been arrested in Canada. 

Major indexes edged higher early in the week, picking up optimism from a trade truce between China and the US that was formed in the G20 summit on Dec. 1. Acclamations were cut short after it was reported that Chinese telecoms giant Huawei Technologies' Chief Financial Officer Meng Wanzhou has been detained in Canada at the behest of US authorities. 

The Shanghai Composite Index fell 0.xx percent to close at 26xx points. The Shenzhen Component Index declined 0.xx percent to 77xx points. The ChiNext Price Index, mostly comprising small-cap tech companies, finished the trading day with a 0.xx percent drop to 13xx points. 

For the whole week, the Shanghai Component rose 0.xx percent in total. The Shenzhen Component declined 0.xx percent and the Growth Enterprise Market lost 1.xx percent.

Meng will have a bail hearing today in Canada which may set the tone for trading next week. 

Editor: Emmi Laine 

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