Share prices on China's Shanghai and Shenzhen stock exchanges closed in mixed directions on Tuesday as small and big cap stocks went in opposition directions.
Small-caps, especially those listed on the ChiNext board, sharply outperformed large-cap bluechips, particularly insurers, banks and stockbrokers, which ended slightly lower on the day.
The benchmark Shanghai Composite Index went down 0.29 percent to end at 3,510.35 points. The Shenzhen Composite Index went up 1.12 percent to end at 2,264.72 points. The index for small firms increased 0.77 percent to end at 8,323.43, and the ChiNext Index surged 1.35 percent to end at 2,745.70. Combined turnover of the two bourses expanded to 714.6 billion yuan, from 672.2 billion yuan on the previous trading day.
Stocks of securities dealers, insurance, banking, coal, electricity grid and shipbuilding sectors led the losers on Tuesday, while the telecom equipment, telecom operation, tourism, software services, mineral products, internet, media and entertainment, and medical treatment sectors outperformed.
On the stock index futures market, the IF December contract decreased 0.69 percent to end at 3,670.4, keeping a discount of 23.99 points to the underlying Hushen 300 Index, which went down 0.46 percent to end at 3,694.39.
The SSE 50 December contract sank 1.25 percent to end at 2,372.6, keeping a discount of 11.23 points to the underlying SSE 50 Index, which lost 1.29 percent to close at 2,383.83.
The CSI December contract advanced 0.71 percent to end at 7,446.0, keeping a discount of 52.18 points to the underlying CSI 500 stock index, which went up 0.77 percent to end at 7,498.18.
As December contracts are to expire on Friday, investors have begun to move their positions to the January contracts.
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