SHANGHAI :
China's Mainland Stocks Slide Into Lunch as Tech Firms Dive
Dou Shicong
DATE:  Oct 16 2020
/ SOURCE:  Yicai
China's Mainland Stocks Slide Into Lunch as Tech Firms Dive China's Mainland Stocks Slide Into Lunch as Tech Firms Dive

(Yicai Global) Oct. 16 -- China's mainland stock markets lost morning gains by lunchtime, dragged down by tech firms, especially those in electric vehicle sector, retreating from a high point.

The Shanghai Composite Index closed 0.28 percent lower at 3,322.85 at the half break. The Shenzhen Component Index stood at 13,450.67, down 1.28 percent and the ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, fell 1.45 percent to 2,698.35.

Contemporary Amperex Technology [SHE:300750], China's leading EV battery provider, dropped 5.76 percent to CNY224.86 (USD33.45), after it hit a record high since listing of CNY244.10 yesterday.

EV giant BYD Company [SHE:002594] also fell off from its all-time high today by 4.84 percent to CNY125.18. It touched a peak of CNY137.73 in yesterday’s trading.

Editor: Ben Armour

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