Shanghai shares extend losses

Decline in insurance and electronic shares pulled the key stock index lower.

Shanghai stocks extended their losses on Thursday following declines in insurance and electronic shares.

The Shanghai Composite Index lost 0.53 percent to end at 3,263.48 points.

Electronic firms were among the biggest decliners. GigaDevice Semiconductor Beijing Inc lost 5.9 percent, and Xiamen Faratronic Co Ltd and Nuode Investment Co Ltd both fell by over 4 percent.

Shares related to the industrial Internet continued to drop, with Yonyou Network Technology Co Ltd down by 3.49 percent.

Insurance shares also declined for the third day. New China Life Insurance Co Ltd dropped 4.71 percent to end at 47.18 byuan and Dongxing Securities Co Ltd shed 2 percent.

Food and beverage shares followed the general downturn, with Inner Mongolia Yili Industrial Group Co off 5.74 percent to end at 28.72 yuan.

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