(Yicai Global) May 20 -- China's mainland stock markets dropped lower in the afternoon as tech firms, especially those that gained in previous days, underwent profound corrections.

The Shanghai Composite Index closed 0.51 percent down at 2,883.74. The Shenzhen Component Index stood at 10,948.48, 0.94 percent lower, while the ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, dropped 1.21 percent to 2,118.12.

Chip firms were among the biggest losers after gaining for days. Shenzhen Rongda Photosensitive & Technology [SHE:300576], a leading supplier of the photoresist used in the wafer industry, plunged 7.24 percent to CNY71.96 (USD10.10) after hitting the 10 percent limit up for two straight days.

Editor: Ben Armour