Chinese stocks fall as weak earnings weigh on sentiment
Mumbai, Oct. 21 -- Chinese stocks ended lower on Wednesday, with the Shanghai Composite falling 0.60% to 3,713 and the Shenzhen Component declining 0.82% to 11,704.4. Weak corporate earnings and concerns over domestic demand weighed on investor sentiment.
CATL plunged 12.03% to its lowest level in more than a year after reporting much slower profit growth in the third quarter. Rising costs, intense competition and slower growth in China's auto sales put pressure on its performance. Other major stocks also declined, with Kweichow Moutai falling 1.67%, Wuliangye Yibin dropping 1.17% and PetroChina losing 2.26%, amid concerns over weak consumer demand and fading hopes for further government stimulus.
Meanwhile, China's economy grew 4.5% ye...
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