Asia Bizz: China’s stock market has slipped by more than 2.62% on Tuesday’s trading session, as a result many companies have faced strong loss on the second day of the week. The Shanghai Composite Index fell by a massive 76.3 points which is equivalent to 2.62% and stabilized at 2,855.52 points by end of the day .
The combined turnover of stocks totalled to 340.6 billion yuan in China and this was impressive for the day but the points were quite disappointing. One of the main reason the market fell on Tuesday is because of the tensions in the Middle East and also the fear of soaring oil prices in globally.
In Shanghai the losers have outperformed the gainers by 801 to 91 and in Shenzen 1,046 to 145. If the oil prices soar in the country, commodity prices will automatically shoot up, as a result traders began to sell out their stocks in the Chinese market. Bankers who have been the top gainers in the country, too lost their faith in the market.