(Yicai Global) March 20 -- Stock markets on the Chinese mainland suffered a rapid decline just before hitting today's half-time break, after the Shanghai Composite Index touched the psychologically important 3,100 barrier in morning trading.

The Shanghai benchmark wound up 1.03 percent down at 3,059.17 going into lunch after investors traded CNY215.6 billion (USD32 billion) worth of shares, while the Shenzhen Component Index sunk 1.63 percent to 9,679.37 with turnover passing CNY264 billion. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, hit the mid-way point at 1,662.6, down 2.71 percent after CNY72.3 billion worth of shares swapped hands.

Small caps led the declines, with those in the agriculture, software and electronics equipment sectors losing 4.1 percent, 2.36 percent and 2.3 percent on average. Securities brokers were the morning's only gainers, rising 0.27 percent.

Editor: James Boynton