Shanghai Composite Falls 1.09% in Morning Trade; Telecom Sector Drops Over 6%
By 10:28 a. m. , the Shanghai Composite Index had fallen 1.09%, with A-share turnover reaching 937.884 billion yuan, down 13.97% from the previous session. Gainers outnumbered decliners, with 3,102 stocks rising and 2,268 falling. The telecommunications sector led losses, dropping 6.16%, while social services, retail, and real estate led gains.
As of 10:28 a. m. , the Shanghai Composite Index was down 1.09%, with A-share volume at 50.278 billion shares and turnover of 937.884 billion yuan, a decrease of 13.97% from the previous trading day. A total of 3,102 stocks advanced, including 57 hitting the daily limit up, while 2,268 declined, including 7 hitting the daily limit down.
By Shenwan industry classification, social services, retail trade, and real estate led gains, rising 1.22%, 1.20%, and 1.00%, respectively, with top gainers including Chuanzhi Education (up 9.97%), Dongbai Group (up 9.96%), and Zhangjiang High-Tech (up 9.99%). Media, textiles and apparel, light manufacturing, food and beverage, banking, home appliances, and agriculture, forestry, animal husbandry, and fisheries also posted gains ranging from 0.95% to 0.33%, with leading stocks including Tiandi Online (up 9.98%), Qiaozhibai (up 9.96%), Jiamay Packaging (up 10.03%), Yiming Food (up 9.98%), Bank of Shanghai (up 2.18%), Beiyikang (up 15.26%), and Huazi Industrial (up 10.00%).
The telecommunications sector fell the most, down 6.16%, with leading decliner Eoptolink down 11.79%; the electronics sector fell 3.38%, with Xi'an Yicai-U down 15.28%; and the building materials sector fell 2.60%, with Sinoma Science & Technology down 8.16%. Nonferrous metals, conglomerates, coal, national defense and military, machinery and equipment, electrical equipment, and oil and gas sectors fell between 2.41% and 1.50%, with leading decliners including Boqian New Materials (down 6.61%), Dongyangguang (down 5.33%), Jinneng Holding Coal (down 5.16%), North Long Dragon (down 8.25%), Shenling Environment (down 10.00%), Zhongheng Electric (down 10.00%), and Potential Hengxin (down 5.40%). Non-bank financials, basic chemicals, pharmaceuticals and biotechnology, steel, utilities, construction and decoration, beauty care, environmental protection, transportation, computers, and automobiles also closed lower.