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Financial stocks weigh on mainland markets

2015-01-09 08:03 Global Times Web Editor: Qin Dexing
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Mainland exchanges fell on Thursday, with financial stocks weighing on the market.

The benchmark Shanghai Composite Index declined by 2.39 percent or 80.50 points to 3,293.46 points on Thursday. The Shenzhen Component Index fell by 1.28 percent or 148.22 points to close at 11,465.14 points.

The CSI 300 Index of the biggest companies traded on the bourses in Shanghai and Shenzhen closed down by 2.32 percent at 3,559.26 points.

The two bourses registered total turnover of 638.2 billion yuan ($102.67 billion), down from Wednesday's 682.67 billion yuan.

Banks, insurers and brokerages were the biggest drag on the markets on Thursday, falling more than 3 percent on average. Bank of China plunged by 4.63 percent to 7.54 yuan and Huatai Securities Co declined by 6.25 percent to 25.21 yuan.

Meanwhile, liquor and IT companies saw their shares climbing on Thursday. Jiugui Liquor Co jumped by 7.16 percent to 16.92 yuan and Integrated Electronic System Lab soared by the daily limit of 10 percent to 13.28 yuan.

The ChiNext Index, China's NASDAQ-style board for high-tech and fast-growing start-ups, rose by 1.21 percent or 18.50 points to 1,541.89 points on Thursday.

In Hong Kong, the Hang Seng Index gained by 0.65 percent to 23,835.53 points, with total turnover of HK$101.94 billion ($13.14 billion).

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