Solid US job data drags down shares 
2019-07-09
China’s A-share markets saw broad-based losses yesterday, led by communication shares, as market expectations of a further Fed interest rate cut were dampened by a solid US payroll report.
The benchmark Shanghai Composite Index slumped by 2.58 percent, or 77.70 points, to finish at 2,933.36. 
The smaller Shenzhen Component Index fell by 2.72 percent to end at around 9,186.29 points, while the ChiNext Index shed 2.65 percent to finish at 1,506.66 points.
The combined turnover of the two bourses came to 468.2 billion yuan (US$67.8 billion), expanding from 374.3 billion yuan during the previous trading day.
Losses were seen across the board, with computer companies, communication shares and automakers among the biggest losers. On Friday, the US Labor Department announced 224,000 new jobs had been added to the country’s economy in June, well above the forecast of 165,000. 
