China’s Markets Close Down as Chip, Vaccine Stocks End Their Winning Streak(Yicai Global) Aug. 19 -- China’s benchmark stock indexes all fell today, dragged down by chipmakers and vaccine developers as investors hurried to cash in on this week’s gains.
Vaccine maker Walvax Biotechnology [SHE:300142] crashed by the exchange-imposed daily limit of 10 percent to CNY67.49 (USD9.77) and Chongqing Zhifei Biological Products [SHE:300122] slumped 9.52 percent to CNY135.60 (USD19.63) while chipmaker China Resources Microelectronics [SHA:688396] tanked 8.55 percent to CNY50.19 (USD7.27).
The Shanghai Composite Index fell 1.24 percent to end the day at 3,408.13. The Shenzhen Component Index dropped 2.09 percent to 13,480.85. The ChiNext index, which tracks growth enterprises listed in Shenzhen, declined 3.27 percent to 4,740.68.
Agriculture, irrigation and electricity stocks were the best performers.
Editor: Kim Taylor