Gold Miners’ Plunge Leads Chinese Benchmark Stock Indexes to Lower Opening(Yicai Global) Aug. 12 -- China's benchmark stock indexes began the day lower this morning, except for the ChiNext Price Index. Miners' shares led the losses as gold prices plummeted.
The Shanghai Composite Index opened 0.38 percent lower at 3,327.49, while the Nasdaq-style Star Market Board 50 Index slid 0.42 percent to 1,485.56.
The Shenzhen Component Index stood at 13,437.57, down 0.21 percent. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, inched up 0.03 percent to 2,689.58.
Zhongjin Gold [SHA:600489] dropped more than 8 percent and Shandong Gold Mining [SHA:600547] slid more than 6 percent. The London gold price closed more than 5.7 percent lower at USD1911.4 last night in the largest one-day drop in over seven years.
Editor: Ben Armour
