Stocks tumble as bourse sees volatile week

Chinese shares fell across the board yesterday, continuing a week of ups and downs. The Shanghai Composite Index fell 0.42 percent to close at 2,559.64 points on slightly higher turnover from the previous day — 127.55 billion yuan (US$18.84 billion) compared with 126.8 billion yuan.

The smaller Shenzhen Component Index dropped 0.93 percent to 7,470.36 points and the blue chip CSI300 index ended 0.55 percent lower at 3,111.42 points.

Almost all sectors posted losses. Stocks of eight companies listed on the A-share markets tumbled by the daily limit of 10 percent.

Technology sectors such as computers, electronic components and communication shares were among the biggest losers.

Stocks related to the Xiongan New Area fell after an early rally. Anshan Senyuan Road and Bridge Co fell by the 10 percent daily cap after the company said it expected to post a 2018 loss of 88-93 million yuan, reversing 2017’s profits. Shijiazhuang Tonhe Electronics Technologies Co lost 5.52 percent, and Suntront Technology fell 5.37 percent.