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China's stock market closed down Wednesday, falling for the sixth consecutive trading day amid lingering concerns about the escalation of trade tensions between China and the United States.
The Shanghai and Shenzhen 300 index. CSI300 fell 0.4% to 3,621.43, while the Shanghai Composite Index. SSEC fell 0.3% to 2,768.68. Both indices closed for the sixth consecutive day.
U.S. President Trump dismissed Tuesday's fears that China and the United States would fall into a protracted trade war, despite Beijing's warning that Washington's decision to list China as a currency manipulator would cause financial market turmoil.
China's central bank said Tuesday that the U.S. Treasury Department's listing of China as a "currency manipulator" would not only seriously undermine the international financial order and cause financial market turmoil, but also greatly hinder international trade and global economic recovery, ultimately reaping its own fruits.
An open source Securities report pointed out that in the medium term, the weakening of the market has become a fact, and the overall environment is not optimistic.
The report said the Shanghai Composite Index fell 250-day moving average on Tuesday for the first time this year, and the 250-day average is often seen as the key level for drawing bull and bear markets.
The MSCI Mingsheng Asia-Pacific (excluding Japan) index fell 0.04%, while the Nikkei index of Nikkei shares closed down 0.33%.

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