Shanghai index at 1-year closing low; tech shares tumble on ZTE ban
SHANGHAI (April 17): China stocks closed lower on Tuesday, with Shanghai index ending at a near one-year low, as tech shares were punched hard after the United States banned American companies from selling components to Chinese telecom equipment maker ZTE Corp.
The blue-chip CSI300 index closed down 1.6% at 3,748.64 points, its lowest since August 2017, while the Shanghai Composite Index dropped 1.4% to 3,066.80 points, its lowest closing level since May 2017.
Sectors fell across the board, led by healthcare and material shares.
Epic shook up the payment model for its Unreal Engine Marketplace yesterday when it revealed it will now payout 88 percent of every sale to creators. This reduced Epic’s cut from 30 percent to 12 percent, and the company noted that it would still earn a profit from that — oh, and Fortnite is doing […]