China A-Share Morning: Shanghai Composite Falls 1.09%, Telecoms Shed Over 6% on Turnover of 937.8 Billion Yuan
As of 10:28 a. m. , the Shanghai Composite Index fell 1.09%, with A-share turnover at 937.88 billion yuan, down 13.97% from the previous session. Telecoms plunged 6.16% to lead declines, while social services, retail, and real estate rose around 1%. There were 3,102 gainers and 2,268 losers, with 57 stocks hitting their daily upside limit and seven hitting the downside limit.
As of 10:28 a. m. , the Shanghai Composite Index fell 1.09%, with A-share turnover reaching 50.28 billion shares and 937.88 billion yuan in value, down 13.97% from the previous trading day. There were 3,102 stocks that rose, including 57 hitting their daily upside limit, while 2,268 stocks fell, including seven hitting the daily downside limit.
By Shenwan industry classification, social services, retail, and real estate led the gains, rising 1.22%, 1.20%, and 1.00% respectively, with top gainers Chuanzhi Education (up 9.97%), Dongbai Group (up 9.96%), and Zhangjiang Hi-Tech (up 9.99%). Other sectors that posted gains included media, textiles and apparel, light manufacturing, food and beverage, banking, home appliances, and agriculture, forestry, animal husbandry and fishery, with rises ranging from 0.95% to 0.33%. Their top gainers were Tiandi Online (9.98%), Qiaozhibai (9.96%), Jiamei Packaging (10.03%), Yiming Food (9.98%), Bank of Shanghai (2.18%), Beiyikang (15.26%), and Huazi Industrial (10.00%).
The telecom sector suffered the steepest decline, falling 6.16%, led by Xinyisheng (down 11.79%). The electronics sector fell 3.38%, led by Xi'an Yicai-U (down 15.28%). The building materials sector declined 2.60%, led by Zhongcai Technology (down 8.16%). Other sectors that fell included non-ferrous metals, conglomerates, coal, defense, machinery, electrical equipment, and petrochemicals, with declines ranging from 2.41% to 1.50%. Their top losers were Boqian New Materials (down 6.61%), Dongyangguang (down 5.33%), Jinkong Coal (down 5.16%), Beifang Changlong (down 8.25%), Shenling Environment (down 10.00%), Zhongheng Electric (down 10.00%), and Qianneng Hengxin (down 5.40%).
Sectors that also closed lower included non-bank financials, basic chemicals, healthcare, steel, utilities, construction and decoration, beauty and personal care, environmental protection, transportation, computer, and automobile.