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Chinese shares extend losses Tuesday

Source: Xinhua| 2018-04-03 17:05:44|Editor: Jiaxin
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BEIJING, April 3 (Xinhua) -- China's major stock indices extended losses Tuesday following a bearish U.S. market as trade frictions between the world's two largest economies continued.

The benchmark Shanghai Composite Index went down 0.84 percent to close at 3,136.63 points, while the Shenzhen Component Index lost 0.91 percent to 10,754.29 points. The NASDAQ-style ChiNext Index shed 1.46 percent to close at 1,872.47 points.

Trading remained thin as combined turnover on the two bourses slipped to around 480 billion yuan (76.39 billion U.S. dollars) from more than 570 billion yuan the previous trading day.

More than 2,300 shares slumped, with chemical fiber, glass, and electronics suffering the most. The sub-index of steel smelting, which is expected to bear the major brunt of the trade spat, declined 1.47 percent. Sectors including fertilizers and plane manufacturing also fell.

The China-U.S. trade tension has shown no signs of easing as the United States has taken aim at Chinese steel and aluminum and plans to announce a longer list of products subject to steep tariffs this week. China's Ministry of Commerce Monday called for dialogue and cooperation to address differences.

Bucking the trend, pork producers and other agri-businesses rallied as farm produce imports from the United States will be curbed due to the trade tension.

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