Chinese Stocks Opened a Tad Lower, Safe-Haven Gold Rises
Zhang Yushuo
/SOURCE : yicai

 (Yicai Global) Dec. 25 -- Chinese stock markets opened slightly down, while absorbing sell-off sentiments from the US and Japan.

The Shanghai Composite opened 0.91 percent down and the Shenzhen Component Index began the trading day 1.14 percent lower. The Growth Enterprise Market Index opened 1.18 percent lower. Equities related to gold, the safe haven commodity, rose, while most others fell. 

In the US, the S&P 500 Index fell by 2.7 percent yesterday, closing at 2,351.12, which was the lowest reading since April 2017. The Dow Jones Industrial Average slid 2.91 percent to close at 21,972.20 points. The Nasdaq declined 2.21 percent to 6,192.2. 

US-listed Chinese firms were not saved from the wide sell-off. Baidu [NASDAQ:BIDU] closed 0.3 percent lower to start the Christmas holidays, while left to think about its over 34 percent decrease over the past year. Alibaba[NYSE:BABA] slipped 0.74 percent to USD130.91. JD.Com [NASDAQ: JD] dropped 0.15 percent to USD19.72. The online retailer has had more than one half of its valuation lopped off in the past 12 months.

In Japan, the Nikkei-225 Stock Average opened 1.9 percent lower at 19785.43, which was the first standing below 20,000 points since September 2017. Tokyo Stock Price Index also opened 1.9 percent down at 1,460.65. 

Editor: Emmi Laine 

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Keywords: Stock Market Downtrend , Shanghai Composite Index , Shenzhen Stock Exchange