A-shares Trend | Shanghai Composite Index closes down 29 points, ChiNext falls more than 2%

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Mainland China stocks fell, and the Shanghai Composite Index closed down 29 points. Trading activity was subdued, with total turnover for both markets combined falling short of 2 trillion yuan, down to 1.84 trillion yuan from the previous day.

The Shanghai Composite Index rose as much as 4 points or 0.1%, reaching a high of 3952 points. It then came under pressure and turned lower; losses widened gradually in the afternoon, expanding to a maximum of 48 points or 1.23%, with a low of 3900 points. It closed at 3919 points for the day, down 29 points or 0.74%, with turnover of 811.97 billion yuan.

The Shenzhen Component Index opened lower and then drifted down. With cautious sellers stepping up, the decline was pronounced, falling as much as 288 points or 2.1%, reaching a low of 13418 points before stabilizing. It closed at 13486 points for the day, down 219 points or 1.6%, with turnover of 1031.054 billion yuan.

The CSI 300 Index was at 4478 points, down 47 points or 1.04%. The ChiNext Index was at 3172 points, down 74 points or 2.31%.

Individual sectors showed mixed performance. Real estate stocks fell more than 2%; nonferrous metals, media and entertainment, chemical industry, power, cement, automobile manufacturing, and financials fell more than 1%. Steel stocks were relatively soft; oil stocks rose more than 2%; and biotech pharmaceutical and coal stocks held steady.

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