Stocks retreat as all markets see declines

Huang Yixuan
Falls in prices on Tuesday follow earlier rallies while total turnover shrinks slightly but remains above 1 trillion yuan for the 10th consecutive session.
Huang Yixuan

China stocks retreated on Tuesday from earlier rallies, while total turnover remained above 1 trillion yuan.

The benchmark Shanghai Composite Index fell 1.15 percent to 3,340.29 points, and the smaller Shenzhen Component Index tumbled 1.4 percent to 13,466.27 points.

The ChiNext Composite Index, meanwhile, lost 1.7 percent to 2,688.7 points, and the blue chip CSI300 Index closed 0.91 percent lower at 4,681.78 points.

Trading volume on the two major bourses added up to 1.13 trillion yuan (US$163.43 billion), shrinking slightly by 23 billion yuan compared with Monday, but remained above 1 trillion yuan for the 10th consecutive session.

Of note, overseas capital poured into the mainland markets on Tuesday, posting a net influx of 3.95 billion yuan via the Stock Connect schemes linking Shanghai and Shenzhen with Hong Kong, which was the highest since July 29. Among them, net inflow into the Shanghai market reached 2.12 billion yuan.

In terms of individual stocks, 59 listed firms gained over 9 percent, while 31 plunged over 9 percent.

Precious metal shares led the fall, with Chifeng Jilong Gold Mining Co slumping by the daily limit of 10 percent while Shandong Humon Smelting Co dropping over 6 percent.

Computer hardware firms were also among big decliners. Fujian Raynen Technology Co lost 7.46 percent, and China Greatwall Technology Group Co shed over 6 percent.

Brokerages, the software sector and shares related to OLED materials also performed weakly, while the sea transportation industry, airports and liquor shares rose.

On the STAR Market, 24 of the 148 listed firms gained, one remained flat, while the rest closed lower. Newly listed Shanghai SK Automation Technology jumped the sharpest by 111.53 percent, while Memsensing Microsystems Suzhou Co lost 16.24 percent to be the biggest decliner.

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