Defense Shares Drag China's Mainland Stock Markets Down Into Lunch (Yicai Global) Jan. 26 -- China's mainland stock markets extended their losses in the morning session into lunchtime. Shares in the aerospace and military sectors led the rout.
The Shanghai Composite Index closed 1.2 percent lower at 3,580.83 at half break. The Shenzhen Component Index was at 15,406.78, down 1.93 percent, while the ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, fell 2.39 percent to 3,275.16.
The aerospace and defense sectors plunged over 4 percent, with a dozen firms tanking nearly 10 percent. Shanghai-based Bestway Marine & Energy Technology [SHE:300008], narrowed its losses to 13.5 percent at noon, priced at CNY5.19 (80 US cents) after opening at the 20 percent limit down,.
Other huge losers in the sector were Guizhou Space Appliance [SHE:002025], Jiangsu-based Avic Aviation High Technology [SHA:600862] and Shaanxi-based AECC Aviation Power [SHA:600893], which all plunged to the 10 percent limit down.
Editor: Ben Armour
