(Yicai Global) March 22 -- Stock markets on the Chinese mainland declined in the morning session, with indexes closing down around 1 percent and wiping out yesterday's gains.
The Shanghai Composite Index was down 0.77 percent at 3,077.56 at the break after investors traded over CNY218 billion (USD32.6 billion) worth of shares, while the Shenzhen Component Index hit the mid-way mark at 9,747.21, down 1.24 percent with turnover of CNY269.6 billion. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, was 1.89 percent lower at 1,671.68 after CNY71.6 billion of shares swapped hands.
Most sectors declined, with agriculture leading losers after shedding 3.42 percent. Communications firms and securities brokerages were both down around 2.3 percent.
Tourism and accommodation fought against the grain, both rising more than 2 percent after China's cabinet said it would re-schedule the International Labor Day vacation to span four consecutive days, instead of a single day, which is expected to stimulate tourism consumption in May.
Editor: James Boynton