SHANGHAI :
China's Stock Markets Dip as Internet, Gold Sectors Lose Ground
Dou Shicong
DATE:  Jul 30 2020
/ SOURCE:  Yicai
China's Stock Markets Dip as Internet, Gold Sectors Lose Ground China's Stock Markets Dip as Internet, Gold Sectors Lose Ground

(Yicai Global) July 30 -- China's mainland stock markets closed marginally lower this afternoon, dragged down by the internet sector and gold firms.

The Shanghai Composite Index dipped 0.23 percent to close at 3,286.82. The Shenzhen Component Index finished at 13,466.85, down 0.67 percent. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, fell 0.86 percent to 2,743.63.

Trading volume on the two markets has remained above CNY1 trillion (USD142.8 billion) for the last two days. Today’s turnover was up 4.5 percent from yesterday.

The internet sector was affected by mobile game developer Wuxi Boton Technology [SHE:300031]’s plunge of 10 percent to CNY26.35 (USD3.76) on the news that tech giant ByteDance has severed its link with a firm backed by Boton for allegedly inaccurately claiming to be an exclusive supplier.

Gold stocks also retreated as the spot gold price receded over the course of the day. Xinjiang-based Western Region Gold [SHA:601069] fell 3.55 percent to CNY16.59.

Editor: Kim Taylor

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