(Yicai Global) March 25 -- China's stock market opened steeply down against a global slump today, barring some sci-tech and innovation board-related shares which swam against the falls.
The Shanghai Composite Index opened at 3,058.80, down 1.46 percent. The Shenzhen Component Index started off at 9,705.02, down 1.76 percent, and the ChiNext Price Index, which tracks growth enterprises in Shenzhen, set off at 1,662.76, 1.84 percent lower. The market is now rebounding slightly with shipbuilding, aerospace and the chemical fiber industry in the lead.
Major markets around the world went lame at the starting gun, with Hong Kong's Hang Seng Index opening 2.1 percent lower at 28,501.4. Tencent Holdings [HK:0700] falling more than 3 percent and Chinese sportswear giant Li Ning [HK:2331] dropping nearly 8 percent.
Japan's Nikkei 225 was lower 1.7 percent at 21,267.41. The TOPIX index was 1.5 percent down at 1,593.30, while South Korea's Seoul composite set out 1.3 per cent lower.
Editor: Ben Armour