China Bourse May Test Support At 3,100 Points
The China stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day losing streak in which it had fallen almost 20 points or 0.6 percent. The Shanghai Composite Index now rests just beneath the 3,125-point plateau and it may take further damage on Wednesday.
The global forecast for the Asian markets is one of caution ahead of the Federal Reserve's rate decision and statement later today. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to split the difference.
The SCI finished barely lower on Tuesday following losses from the properties, support from the resource stocks and a mixed picture from the financial sector.
For the day, the index dipped 0.98 points or 0.03 percent to finish at 3,124.96 after trading between 3,113.53 and 3,131.13. The Shenzhen Composite Index sank 16.83 points or 0.88 percent to end at 1,904.65.