Share prices on China's Shanghai and Shenzhen stock exchange continued weak momentum amid volatile trading and expanding turnover but closed sharply off low on Tuesday with small cap stocks underperforming heavyweights.
For the whole day, the benchmark Shanghai Composite Index shed 0.26 percent to end at 3,287.71 points. The Shenzhen Composite Index lost 1.86 percent to end at 2,079.77 points. The index for small firms plunged 1.28 percent to end at 7,604.33, and the ChiNext Index tumbled 2.99 percent to end at 2,416.73. The Shanghai Composite Index dived more than 3 percent during intra-day trading. Combined turnover of the two bourses expanded to 811.54 billion yuan from 596.21 billion yuan on the previous trading day.
Stocks of shipbuilding, public transport, iron and steel, aviation, insurance, banking and coal sectors led the gainers while those in internet, mineral products, software, logistics, computer, hotel, media, medical care, environmental protection, pharmaceutical, agricultural and machinery sectors were the top losers.
On the stock index futures market, the IF January contract went down 2.55 percent to end at 3,408.8, keeping a discount of 69.98 points to the underlying Hushen 300 Index, which gained 0.28 percent to end at 3,478.78. The SSE 50 January contract decreased 1.32 percent to end at 2,261.0, keeping a discount of 27.11 points to the underlying SSE 50 Index, which added 0.78 percent at 2,288.11. The CSI January contract fell 4.3 percent to end at 6,699.0, keeping a discount of 190.74 points to the underlying CSI 500 stock index, which plunged 1.34 percent to end at 6,889.74.
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