Share prices on China's Shanghai and Shenzhen bourses extended sharp decline for the second straight days amid shrinking turnover on Tuesday with over 2,000 of the 2,300-traded stocks closing in the negative territory as profit taking sentiment continued lingering over the market.
For the whole day, the benchmark Shanghai Composite Index fell 3.52 percent to end at 3,005.17 points. The Shenzhen Composite Index lost 4.97 percent to end at 1,580.26. The SME Index for small firms dived 5.19 percent to end at 6,241.24, and the ChiNext index plunged 5.7 percent to close at 1,797.56.
Combined turnover of the two bourses shrank to 477.615 billion yuan from 681.054 billion yuan on the previous trading day.
An overwhelming majority of the listed stocks closed in the negative territory on Tuesday. Stocks in shipbuilding, aviation, internet, electric equipment, software, media, chemical fiber, computer, iron and steel, nonferrous metals, property, chemical fiber and agricultural sectors led the losers.
On the stock index futures market, the IF September contract went up 0.16 percent to end at 3,142.2, keeping a discount of 10.03 points to the underlying Hushen 300 Index, which decreased 3.93 percent to close at 3,152.23. The SSE 50 September contract went up 1.49 percent to end at 2,160, keeping a discount of 15.17 points to the underlying SSE 50 Index, which fell 2.38 percent to close at 2,175.17. The CSI September contract plunged 2.35 percent to end at 5,663.6, keeping a discount of 44.43 points to the underlying CSI 500 stock index, which lost 5.65 percent to end at 5,708.03.
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