(Yicai Global) March 12 -- China's stock markets tumbled this morning as investors were cautious following main futures contracts on the Nasdaq triggering a level one circuit breaker that halted trading for 15 minutes, though chip stocks dodged the decline.

The Shanghai Composite Index ended the morning at 2,928.80, down 1.34 percent, while the Shenzhen Component Index fell 1.95 percent to 10,981.34. The ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, dropped 2.25 percent to 2,054.24.

Chip shares were up 1.22 percent when the session ended.