Shanghai shares slip

Stock market dragged down by tumble in newly-listed stocks.

Shanghai stocks dipped today, with newly-listed companies leading the decline.

The Shanghai Composite Index shed 0.24 percent to end at 3,309.62 points.

Newly-listed stocks such as Daqian Ecology & Landscape Co Ltd, Wuxi Acryl Technology Co Ltd and Zhejiang Shengda Bio-pharm Co Ltd all dropped by the daily limit of 10 percent.

Shares related to the next-generation mobile technology such as ZhongTongGuoMai Communication Co Ltd and CIG ShangHai Co Ltd also fell by the maximum 10 percent after fears arose that the 5G industry may fail to develop as rapidly as expected, market observers said.

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