China's Stock Markets Extend Losses in Afternoon as Tech Firms, Distillers Drop(Yicai Global) Dec. 24 -- China's mainland stock markets went lower in the afternoon session as liquor makers and internet firms plunged.
The Shanghai Composite Index closed 0.57 percent lower at 3,363.11. The Shenzhen Component Index was at 13,915.57, down 0.71 percent. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, fell 0.78 percent to 2,820.75.
Internet companies followed Alibaba Group Holding's slide after a market regulator started investigating the e-commerce giant for alleged monopoly conduct. Shares of Alibaba [HKG: 9988] ended 8.1 percent down at HKD228.20 (USD29.40).
Unlisted Ant Group's fintech affiliate Hundsun Technologies [SHA:600570] tumbled by 6.6 percent.
Several distillers plummeted by the 10 percent limit, including Jinhui Liquor [SHA:603919], Hengshui Laobaigan Liquor [SHA:600559], and Yilite Industry [SHA:600197].
Editor: Emmi Laine
