(Yicai Global) July 16 -- China's mainland stock markets fell today as the latest economic data failed to further prop up investor sentiments after earlier market rallies. The recent gainers of semiconductor, biotechnology, medical suppliers, and liquor distillers, were among the hardest-hit sectors.

The Shanghai Composite Index slid 4.50 percent to 3,210.10 in the afternoon session. The Shenzhen Component Index was down 5.37 percent at 12,996.34. The ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, slumped 5.93 percent to 2,646.36.

China's gross domestic product grew 3.2 percent in the second quarter from a year ago, which was much better than the 6.8 percent drop in the first quarter, according to the statistics bureau's data released today. It was also higher than what chief economists, surveyed by Yicai Global, had expected at 2.37 percent.

China's mainland stock markets have been surging since late March as the country has been recovering from the impacts of the pandemic. Major stock indexes have risen at least 15 percent in the first two weeks of this month.

Editor: Emmi Laine