(Yicai Global) Jan. 8 -- Stock markets on the Chinese mainland extended their losses in afternoon trade as investors used the conflict between the US and Iran as a pretext to take profits.
The Shanghai Composite Index was down 1.22 percent at 3,066.89 at the close after the index reached a nine-month summit yesterday.
The Shenzhen component index closed 1.13 percent lower at 10,706.87, while the ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, was down 1.61 percent at 1,862.70. Both Shenzhen indexes reached 20-month peaks yesterday.
Iran firing of ballistic missiles at bases housing American troops in Iraq this morning as retaliation for a US drone strike killing an Iranian major general last week has rattled markets.
Editor: Ben Armour