LINE

Text:AAAPrint
Economy

China stocks tumble on weak market sentiment

1
2015-12-29 09:07Xinhua Editor: Gu Liping

China's stocks closed lower on Monday, with the benchmark Shanghai Composite Index down 2.59 percent to close at 3,533.78 points.

The smaller Shenzhen index dipped 2.27 percent to close at 12,686.34 points. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, lost 2.12 percent to close at 2,735.49 points.

Total turnover on the two bourses stood at 897.3 billion yuan (138.4 billion U.S. dollars), up from the 684.3 billion yuan registered last Friday.

Nearly 50 shares gained by the daily limit of 10 percent, while 404 shares tumbled by more than 5 percent.

Banks, securities and insurance companies were among the biggest losers. Citic Securities lost 5.92 percent to close at 19.56 yuan. China Life Insurance shed 3.69 percent to end at 28.94 yuan.

Analysts from Tianxin Investment partially attributed the fall to reduced capital flow caused by both the upcoming year end and IPOs slated for next week.

Market sentiment, especially for some over-priced ChiNext board and small cap stocks, was weighed down by the latest listing system reform, making listings much easier from March 1.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.