Mixed performance for China's stock markets

China’s main equity indexes closed mixed on Wednesday amid contracted turnover.

At close, the benchmark Shanghai Composite Index was up 0.44 percent to 2,822.44 points, while the smaller Shenzhen Component Index increased by 0.12 percent at 10, 514.17 points.

The ChiNext index, China’s NASDAQ-style board of growth enterprises, edged down 0.01 percent to end at 2030.48 points.

Turnover on the two major bourses contracted to 532.8 billion yuan (US$75.12 billion), compared with 673.9 billion yuan in the previous trading session.

Most sectors lost with losers outnumbering gainers by 1,961 to 1,760 on the two bourses.

However, banking, expressway and online travel shares performed strongly. All 21 expressway shares increased. Shandong Hi-speed Co Ltd surged 9.94 percent.

Expressway shares increased after the Ministry of Transport said turnpikes would not be free of charge from May 6.

To balance COVID-19 containment and economic development, all tollways have been free of charge since February 17.

China Merchants Securities said: “The activity level of the macroeconomy determines the revenue of expressway operators. As the coronavirus pandemic eases, traffic and tolls will be back to normal.”

The agriculture, food and drinks and liquor industries were among biggest losers on the day.