star market: Chinese mainland stocks have recently been inching lower in very thin trade as investors remain cautious ahead of the debut of the first batch of companies on Shanghai's STAR Market on July 22, according to Global Times China. The benchmark Shanghai Composite Index closed narrowly higher Thursday, while the Shenzhen Component Index ended the day in negative territory after opening higher, underperforming a global rally fueled by a stronger Federal Reserve rate cut case. If that does prove to be the case, the recent sluggishness in China's A-share market is not likely to indicate deeper woes for investors, although greater efforts will be required on the regulatory side to better protect retail investors who are still the backbone of the domestic stock market. During testimony before the House Financial Services Committee on Wednesday, Federal Reserve Chairman Jerome Powell said the Fed will act as appropriate as crosscurrents weigh on the US economy. However, Chinese mainland shares continued to languish. All three major US stock indices hit record highs in intraday trade Wednesday.
(news.financializer.com). As
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