China Stocks Fall as Central Bank Rate Stays Unchanged; Securities Shares See Movement

MT Newswires Live11-20

Chinese stocks declined Thursday after the central bank retained its benchmark lending rates for the sixth straight month.

The Shanghai Composite Index, the main gauge of Chinese stocks, lost 0.4% or 15.69 points to reach 3,931.05. The Shenzhen Component Index fell 0.8% or by 99.27 points to 12,980.82.

The People's Bank of China kept its one-year loan prime rate at 3% and the five-year loan prime rate at 3.5%. All analysts polled by Reuters expected no change.

Meanwhile, U.S. President Donald Trump's planned semiconductor tariffs could most likely be delayed and could be more likely stalled to avoid confrontation with China, Reuters reported, citing sources familiar with the matter.

In corporate news, shares in securities brokerages moved significantly following news that China International Capital Corp (SHA:601995, HKG:3908) will acquire rivals Dongxing Securities and Cinda Securities, Reuters reported separately the same day.

Huatai Securities' (SHA:601688) Shanghai shares fell 3% following the news, while Capital Securities (SHA:601136) closed 3% higher.

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