Share prices on China's Shanghai and Shenzhen bourses went up some one percent in the morning session but reversed to loss in the afternoon on Monday due to investors' concerns over liquidity tense after IPO restart.
Ten Chinese companies got nod from China Securities Regulatory Commission (CSRC), the top securities regulator, to restart initial public offerings (IPO) on Shanghai and Shenzhen bourses on last Friday after an IPO call-off since July due to market rout.
For the whole day, the benchmark Shanghai Composite Index shed 0.56 percent to end at 3,610.31 points. The Shenzhen Composite Index lost 0.75 percent to end at 2,268.62 points. The index for small firms fell 0.56 percent to end at 8,532.52 and the ChiNext Index dropped 1.06 percent to end at 2,770.58. Combined turnover of the two bourses shrank to 1.07 trillion yuan from 1.08 trillion yuan on the previous trading day.
Stocks of shipbuilding, public transport, nonferrous metals, software, environmental protection, telecom operation, petroleum, machinery and securities brokerage sectors led the losers on Monday while those in media, property, liquor brewing, textile, food and beverage and agricultural sectors were among the top gainers.
On the stock index futures market, the IF December contract decreased 0.79 percent to end at 3,619.2, posting a discount of 134.14 points to the underlying Hushen 300 Index, which edged down 0.56 percent to end at 3,753.34. The SSE 50 December contract fell 0.41 percent to end at 2,409.2, posting a discount of 47.64 points to the underlying SSE 50 Index, which edged down 0.4 percent to close at 2,456.84. The CSI November contract lost 1.06 percent to end at 7,356.6, keeping a discount of 387.58 points to the underlying CSI 500 stock index, which went down 0.8 percent to end at 7,744.18.
Latest comments