Chinese shares continued their volatile run, taking another tumble on Thursday as investors took profits on earlier gains and awaited news out of an upcoming Group 20 meeting.
The Shanghai SSE lost 6.4 percent to close at 2,741. Markets elsewhere were mixed. Tokyo’s Nikkei 225 rose 1.4 percent to end at 116,140 while Hong Kong’s Hang Seng shed 1.6 percent to finish at 18,889.
Investors appeared unimpressed with Esprit’s first-half figures, which it released Wednesday. The company, which is executing a turnaround strategy, saw its shares tank 13.7 percent to end at 6.80 Hong Kong dollars. Global Brands was flat at 1.05 Hong Kong dollars ahead of releasing its full-year numbers after markets closed.
Chow Tai Fook was flat at 4.47 Hong Kong dollars. Shiseido grew 1.6 percent to finish at 2,447 yen while Fast Retailing edged up 0.3 percent to close at 31,230 yen.
Wall Street ended slightly higher Wednesday as falling oil prices, a drop in new home sales and a poor U.S. manufacturing report prompted investors to sell stocks on worries of a first quarter contraction in the American economy.
World leaders will gather in Shanghai on Friday for the G20 meeting.