Share prices on China's Shanghai and Shenzhen bourses nosedived more than 5 percent on Monday after the suspension of the stock market "circuit breaker" mechanism from last Friday on weak market sentiment. For the whole day, the benchmark Shanghai Composite Index sank 5.33 percent to end at 3,016.70 points.The Shenzhen Composite Index plunged 6.60 percent to end at 1,848.10 points. The index for small firms dived 6.32 percent to end at 6,745.32, and the ChiNext Index tumbled 6.34 percent to end at 2,106.36. Combined turnover of the two bourses shrank to 664.2 billion yuan from 738.5 billion yuan on the previous trading day.
All listed sectors ended in the negative territory, dragged by public transport, mineral products, shipbuilding, aviation devices, logistics, software services, telecom equipment, media and entertainment, environmental protection, medical treatment, and securities dealers sectors. On the stock index futures market, the IF January contract dived 5.53 percent to end at 3,151.8, keeping a discount of 40.65 points to the underlying Hushen 300 Index, which plunged 5.03 percent to end at 3,192.45.
The SSE 50 January contract tumbled 4.41 percent to end at 2,109.6, keeping a discount of 10.63 points to the underlying SSE 50 Index, which sank 4.48 percent at 2,120.23. The CSI January contract dived 7.98 percent to end at 5,940.4, keeping a discount of 188.26 points to the underlying CSI 500 stock index, which plunged 6.72 percent to end at 6,128.66. As January contracts are to expire on Friday, investors have begun to move their positions to the February contracts.
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