Most Chinese stocks fell – with the benchmark hovering around a 14-month low – on Christmas Day, as a rout in online gaming stocks entered its second day even after the industry regulator sought to soothe investors’ nerves.
The Shanghai Composite Index rose 0.1 per cent to 2,918.81 at the close, near its lowest level since October 31, 2022. About three stocks dropped for every two that gained on Monday. The CSI 300 Index of the most valuable stocks on the Shanghai and Shenzhen exchanges added 0.3 per cent.
Hong Kong’s market is shut for two days through Wednesday for the Christmas holiday.
Giant Network Group tumbled by the 10 per cent exchange-imposed daily limit to 11.21 yuan (US$1.57) and Kingnet Network also plunged by that much to 9.85 yuan. 37 Interactive Entertainment Network Technology Group slumped almost 8 per cent to 18.96 yuan and Shanghai Yaoji Technology fell 7.6 per cent to 22.02 yuan.
China’s National Press…
