Local stocks slide on foreign markets, but gold shines 
2019-08-27
Shanghai stocks closed down yesterday following sluggish performances on overseas markets. Gold makers and health-care shares bucked the trend.
The Shanghai Composite Index fell 1.17 percent to 2,863.57 points on turnover of 191 billion yuan (US$27 billion).
Haitong Securities said in a research note that the short-term market might be unstable but high-tech companies would outperform the overall market.
Vice Premier Liu He made a speech at the Smart China Expo in Chongqing yesterday and reiterated that China has the policies and tools to maintain the economic fundamentals to ensure the sound momentum of economic development. 
Huadong Medicine Co edged up 3.21 percent to close at 30.91 yuan and North China Pharmaceutical Co surged the daily limit of 10 percent to 7.16 yuan. 
Metal producers bucked the trend. Shandong Gold Mining Co rose 4.7 percent to 38.1 yuan and Zijin Mining Group Co 1.65 percent to 3.69 yuan.
STAR tech board firms also increased despite a brief drop in the afternoon session.
