(Yicai Global) Oct. 29 -- China's mainland stock markets extended losses in the afternoon as many blockchain-related firms went through corrections after yesterday's upsurges.

The Shanghai Composite Index dropped 0.87 percent to 2,954.18. The Shenzhen Component Index was at 9,746.03, down 0.57 percent. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, fell 1.05 percent to 1,686.58.

Blockchain shares declined over 2 percent in the afternoon after the sector logged a nearly 7 percent gain yesterday, caused by the recent favor of the Central Committee of the Communist Party of China.

Editor: Emmi Laine