Because the prospect of Sino US trade agreement is frustrated

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      Shanghai shares closed lower on Wednesday as expectations of a quick trade deal between the US and China fell after US President Trump's remarks, although a series of data and survey results released recently showed good performance, suggesting a pick-up in China's economy and helping to curb the stock market's decline.
CSI300 closed flat at 3849.82, while Shanghai Composite Index. SSEC fell 0.23% to 2878.12.
U.S. President trump said that the trade agreement with China may have to wait until after the U.S. election in November 2020, raising questions about when to stop the dispute; meanwhile, the "Uyghur human rights policy bill" passed by the U.S. House of Representatives is causing China's dissatisfaction.
Several sources familiar with Beijing's position told Reuters that the escalation of tensions caused by the Xinjiang bill could jeopardize the so-called "first stage" trade agreement.
However, recent optimistic economic data limited the decline of the stock market. According to the latest data of Caixin China PMI, the service industry boom improved significantly in November, rising to a seven month high; while both the service industry and the manufacturing industry are improving, the comprehensive PMI also rose to a new high in recent two years, with new orders reaching the highest level since February last year.


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