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Chinese shares plunge on Tue. on global woes

2015-09-29 16:01

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Share prices on China's Shanghai and Shenzhen bourses were in weak correction and finally closed sharply lower on Tuesday due to global woes and investors' cautious sentiment ahead of upcoming week-long holiday.

For the whole day, the benchmark Shanghai Composite Index plunged 2.02 percent to end at 3,038.14 points. The Shenzhen Composite Index lost 1.51 percent to end at 1,711.71. The SME Index for small firms fell 1.56 percent to end at 6,743.21 and the ChiNext Index dropped 1.12 percent to close at 2,098.57.

Combined turnover of the two bourses expanded to 420.9 billion yuan from 404.43 billion yuan on the previous trading day.

The majority of stocks closed in the negative territory on Tuesday except for education and public transport stocks. Stocks in shipbuilding, coal, mineral products, aviation, insurance, nonferrous metals, electric power, chemical, tourism, telecom operation, property, software, iron and steel sectors led the losers on the day.

On the stock index futures market, the IF October contract fell 2.11 percent to end at 3,082.8, keeping a discount of 96.05 points to the underlying Hushen 300 Index, which went down 1.97 percent to close at 3,178.85. The SSE 50 October contract lost 1.87 percent to end at 2,094.2, keeping a discount of 33 points to the underlying SSE 50 Index, which dropped 1.97 percent to close at 2,127.2. The CSI October contract declined 1.3 percent to end at 5,914.0, keeping a discount of 189.61 points to the underlying CSI 500 stock index, which went down 1.87 percent to end at 6,103.61.

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