Trading on China's Shanghai and Shenzhen stock exchanges was halted for the first time in history under the circuit-breaker system that took effect on January 1, 2016 after share prices plunged by nearly seven percent on Monday.
For the whole day, the benchmark Shanghai Composite Index tumbled 6.86 percent to end at 3,296.26 points. The Shenzhen Composite Index lost 8.22 percent to end at 2,119.16 points. The index for small firms plunged 8.23 percent to end at 7,703.19, and the ChiNext Index dipped 8.21 percent to end at 2,491.24. Combined turnover of the two bourses shrank to 596.21 billion yuan from 686.6 billion yuan on the previous trading day.
An overwhelming majority of stocks closed lower on Monday, of which those in logistics, securities brokerage, environmental protection, machinery, medical care, chemical fiber, telecom operation, automobile, internet, tourism and nonferrous metals sectors saw the biggest losses.
On the stock index futures market, the IF January contract went down 6.75 percent to end at 3,425, keeping a discount of 44.07 points to the underlying Hushen 300 Index, which lost 7.02 percent to end at 3,469.07. The SSE 50 January contract decreased 6.22 percent to end at 2,254, keeping a discount of 16.46 points to the underlying SSE 50 Index, which dipped 6.21 percent at 2,270.46. The CSI January contract fell seven percent to end at 6,881.2, keeping a discount of 102.2 points to the underlying CSI 500 stock index, which plunged 8.33 percent to end at 6,983.4.
Latest comments