13China stocks plunge for the day, ChiNext 3.1% drop, affected by the SK Hynix shock
13China stocks fell to a lower close on the day ahead of major economic indicators, as selling to trim holdings and unease over the Middle East weighed on the market. Technology shares were particularly weak, and SK Hynix’s sharp drop in the Korean market had a negative effect on investor sentiment.
13China stocks fell to a lower close on the day ahead of major economic indicators, as selling to trim holdings and unease over the Middle East weighed on the market. It could have an immediate effect on investor sentiment linked to Asian markets.
The Shanghai Composite Index closed at 82.37points lower, at 3,913.79.
The Shenzhen Component Index fell 523.82points and closed at 14,522.85.
The ChiNext Index, centered on technology stocks,119.21 fell by 3,723.52points to close the session.
The Shanghai tech-heavy STAR Market 50index fell 3.42%. Weakness in South Korean semiconductor stocks weighed on the broader market.
After being listed in New York over the weekend, SK Hynix shares fell by more than 16% during trading in Korea on the day, hurting investor sentiment in China.
Semiconductors, electronic devices, software, defense, gold miners, automakers, electronic components, new materials, construction, real estate, air transport, and pharmaceutical stocks were weak.
Large bank stocks, oil-related stocks, insurers, shipping stocks, and food and beverage stocks showed relatively firm trends.
Some stocks, including Semiconductor Bao Yi Chuangxin, Guangdong Province Yike Technology, and Jiangsu Hengtong Optic-Electric, hit the 10limit down level.
Sources: 뉴시스 경제
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