Stocks end mixed with fall in combined turnover

China’s A-share markets posted mixed results on Monday, with most sectors suffering losses. The combined turnover of the two bourses fell.

The benchmark Shanghai Composite Index advanced by 0.20 percent, or 5.65 points, to finish at 2,887.62 points.

The smaller Shenzhen Component Index fell by 0.33 percent to end at around 8,780.87 points, while the ChiNext Index was down by 0.80 percent to close at 1,442.35 points.

The combined turnover of the two bourses came to 335.7 billion yuan (US$48.38 billion) on Monday, contracting sharply from the previous trading day’s number of 448.9 billion yuan.

Losses were seen across the board, with farming, fishing and forestry equities among the leading losers. Gold and tobacco companies also posted weak performances. Shares of Gansu Dunhuang Seed Group Co Ltd slumped by 6.64 percent to stand at 7.31 yuan a share.

The long-awaited Shanghai-London Stock Connect was, meanwhile, launched on the London Stock Exchange on Monday.

The new stock connect program, which was jointly advanced by the Chinese and British governments in 2015, will allow London-listed companies to issue Chinese Depository Receipts in China, while Shanghai-listed firms will be able to issue Global Depository Receipts on the London bourse.

The move is part of China’s recent measures to further open up its capital market to the outside world, analysts said.

Also on Monday, a spokesman from the National Development and Reform Commission announced that before the end of 2019, the restrictive regulations for foreign investment, other than the negative list, will be completely removed to ensure consistency of standards in market access for domestic and foreign players.

The NDRC will further expand the range of industries and fields to encourage foreign investment in the future, especially in the central and western regions of China.