China stocks dip on Wednesday

Yuan Luhang
China's main equity indexes fell while 5G sector continued strong performance.
Yuan Luhang

Chinese equities dipped while 5G sector posted another strong performance.

At the close of market hours, the Shanghai Composite Index shed 0.03 percent to 2,861.42 point, the Shenzhen Component Index dropped 0.03 percent to end at 8,746.05 point and the blue chip CSI300 index lost 0.038 percent to close at 3,597.10 point.

Turnover on the two major bourses totaled 407.8 billion yuan (US$58.91 billion), compared with 422.4 billion yuan in the previous trading session. Market volume was still sluggish.

The 5G sector led the gains as the promised commercialization of 5G in the near future bolstered confidences. Shares of Guomai Technology Co Ltd, Shenzhen Xintian Technology Co Ltd and Taijing Technology Co Ltd hit the daily cap.

The real estate sector and the non-ferrous metal sector are also among the biggest gainers. Shares of CCCG Real Estate Group Co Ltd climbed by the daily limit.

The agriculture, forestry, animal husbandry and fishery industries also posted strong performance, as Shanghai Financial Work Bureau, People's Bank of China Shanghai Branch and Shanghai Banking Insurance Bureau jointly issued file to support eligible agricultural companies to go public.

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