Chinese equities lost 1.54 percent Thursday on profit-taking, trailing overnight Wall Street losses.
The benchmark Shanghai Composite Index fell 1.54 percent, or 40.79 points, to close at 2,610.62. The Shenzhen Component Index slid 2.51 percent, or 260.28 points, to 10,108.86.
Combined turnover shrank to 210.06 billion yuan (30.78 billion U.S. dollars) from 214.6 billion yuan on the previous trading day.
Losses outnumbered gains by 665 to 181 in Shanghai and 597 to 144 in Shenzhen.
In spite of the day's losses, the Shanghai Composite Index has advanced more than 41 percent for the year to date.
Coal shares that outperformed the index on previous trading days fell across the board as investors took profits, dealers said.
Top coal producer China Shenhua lost 4.99 percent to 26.64 yuan, while China Coal sank 4.59 percent to 12.06 yuan.
Property shares, which had been bullish in recent weeks boosted by rising home sales, took a hit Thursday on continued profit taking, Zhang Yunpeng, an analyst with Beijing-based Huarong Securities, told Xinhua.
China Vanke, the largest property developer by market value, shed 3.66 percent to 9.75 yuan, while COFCO Property lost 3.77 percent to 7.66 yuan.
Gold stocks gained momentum on rising gold prices buoyed by the rally in oil and the U.S. dollar's slide, Zhang said. Zhongjin Gold jumped by the daily limit of 10 percent to 73.57 yuan and Shandong Gold Mining surged 8.73 percent to 44.22 yuan.
Zhang predicted the market correction would continue, as it was not easy for the Shanghai Composite Index to break through the psychologically important 2,700-point line.
Source: Xinhua
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