Share prices on China's Shanghai and Shenzhen bourses posted a reversal from a maximum daily rise of over two percent to a sharp loss of more than two percent realized in the last half an hour till the market close on Thursday.
For the whole day, the benchmark Shanghai Composite Index lost 2.1 percent to end at 3,086.06 points. The Shenzhen Composite Index fell 1.48 percent to end at 1,658.42. The SME Index for small firms dropped 1.62 percent to end at 6,559.54, and the ChiNext index advanced 0.37 percent to close at 1,933.30. Combined turnover of the two bourses expanded to 698.05 billion yuan from 566.78 billion yuan on the previous trading day.
Stocks in software, internet, petroleum and computer sectors led the gainers while those in shipbuilding, iron and steel, property, securities brokerage, textile, agricultural, electric power, liquor brewing, pharmaceutical and automobile sectors led the losers.
On the stock index futures market, the IF September contract went down 0.68 percent to end at 3,240.6, keeping a discount of 4.45 points to the underlying Hushen 300 Index, which went down 2.18 percent to close at 3,237.03. The SSE 50 September contract lost 0.99 percent to end at 2,195.2, reversing to a premium of 1.65 points to the underlying SSE 50 Index, which dropped 2.1 percent to close at 2,194.82. The CSI September contract fell 1.17 percent to end at 5,955.0, keeping a discount of 34.04 points to the underlying CSI 500 stock index, which decreased 1.96 percent to end at 5,965.41. As the September contracts are about to expire on Friday, investors continued to move their positions to the October contracts, which also closed in the negative territory on Thursday.
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