Bitcoin-Fueled Crypto Firms Avert Chinese Stock Markets' Morning Slides
Dou Shicong
DATE:  Jan 15 2020
/ SOURCE:  yicai
Bitcoin-Fueled Crypto Firms Avert Chinese Stock Markets' Morning Slides Bitcoin-Fueled Crypto Firms Avert Chinese Stock Markets' Morning Slides

(Yicai Global) Jan. 15 -- China's mainland stock markets dropped even lower by lunchtime while digital currency firms went against the downward trend, following bitcoin's recent surge.

The Shanghai Composite Index fell 0.66 percent to 3,086.32 by the noon break. The Shenzhen Component Index was at 10,921.18, down 0.62 percent. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, slid 0.42 percent to 1,914.43.

The cryptocurrency sector climbed 2.52 percent, led by Lianluo Interactive Information Technology, a shareholder of mining rig maker Bitmain. Lianluo's shares [SHE:002280] jumped by the daily limit of 10 percent to CNY4.7 (US 68 cents) per share.

Bitcoin's price has risen 2.55 percent to around USD8,700 during the last 24 hours, finishing the latest leg of a 20 percent climb since the beginning of this year.

Editor: Emmi Laine

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Keywords:   Shanghai Composite Index,Shenzhen Component Index,ChiNext Price Index