Share prices on China's Shanghai and Shenzhen bourses retreated further and closed sharply lower on Wednesday amid thinner turnover. Small cap stocks, especially those listed on ChiNext Board, or China's Nasdaq-like stock market, posted strong losses with more than 3 percent on Wednesday.
For the whole day, the benchmark Shanghai Composite Index sank 1.72 percent to end at 3,375.20 points. The Shenzhen Composite Index plunged 2.22 percent to end at 1,998.38. The SME Index for small firms lost 2.58 percent to end at 7,724.01 and the ChiNext Index nosedived 3.07 percent to close at 2,485.24. Combined turnover of the two bourses shrank to 916.5 billion yuan from 993 billion yuan on the previous trading day.
All listed sectors except for water-related affairs ended in the negative territory, dragged by logistics, aviation devices, medical treatment, mineral products, public transport, telecom equipment, shipbuilding, securities dealers, software services, and internet sectors.
On the stock index futures market, the IF November contract sank 1.93 percent to end at 3,413.0, keeping a discount of 111.92 points to the underlying Hushen 300 Index, which lost 1.89 percent to end at 3,524.92.
The SSE 50 November contract fell 1.40 percent to end at 2,279.0, keeping a discount of 31.7 points to the underlying SSE 50 Index, which went down 1.67 percent to close at 2,310.70.
The CSI November contract plunged 3.44 percent to end at 6,683.4, keeping a discount of 365.5 points to the underlying CSI 500 stock index, which sank 2.52 percent to end at 7,048.90.
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