Medical Shares Gain, Go Against Grain as China Tourism, Other Stocks Dive
Dou Shicong
DATE:  Jan 21 2020
/ SOURCE:  yicai

(Yicai Global) Jan. 21 -- China's mainland stock markets continued their plunge in the afternoon, as airlines and hotel operators took a hit from the spreading pneumonia, while pharma and other medical firms kept up a strong showing.

The Shanghai Composite Index closed 1.41 percent lower at 3,052.14. The Shenzhen Component Index stood at 10,953.41, down 1.46 percent, and the ChiNext Price Index, which tracks Shenzhen-listed growth enterprises, dropped 0.76 percent to 1,967.03.

The tourism and hotel sectors closed more than 3 percent lower, as Beijing-based leading operator BTG Hotels Group [SHA:600258] plummeted 5.23 percent to CNY17.39 (USD2.52). The airline and airport sectors were also collateral damage, slipping over 2 percent, led by Spring Airlines [SHA:601021], down 3.42 percent at CNY40.11.

Medical shares rose 2 percent, swimming against the market tide, with more than 20 firms hitting the 10 percent limit up, including several stocks that have surged 20 percent since yesterday, such as Shandong Lukang Pharmaceutical [SHA:600789], Xiangxue Pharmaceutical [SHE:300147] and Da An Gene [SHE:002030].

Editor: Ben Armour

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Keywords:   Shanghai Composite Index,Shenzhen Component Index,ChiNext Price Index