Tech Stocks Tip Chinese Equities Lower at Close
Dou Shicong
DATE:  Oct 15 2020
/ SOURCE:  Yicai
Tech Stocks Tip Chinese Equities Lower at Close Tech Stocks Tip Chinese Equities Lower at Close

(Yicai Global) Oct. 15 -- Chinese mainland equities ended lower at the market close today after tech stocks shed some of recent gains.

The Shanghai Composite Index nudged 0.26 percent down to 3,332.18; the Shenzhen Component Index fell 0.48 percent to 13,624.89; while the ChiNext Price Index, which tracks growth stocks traded in Shenzhen, lost 0.95 percent to 2,737.96.

The solar battery sector beat a retreat after a sturdy recent advance. Eging Photovoltaic Technology [SHA:600537] dived by the exchange imposed 10 percent limit to CNY4.61 (69 US cents). But shares of the Zhejiang province-based solar battery chipmaker have still chalked up a 16 percent increase since Sept. 30.

Semiconductor and medical stocks also had corrections, while blue chips, including banks and energy companies, bucked the market to make gains.

This week has seen China’s stock market, the world’s second largest, climb to a record level of more than USD10 trillion, surpassing the previous high set in 2005. The swift pace of the country’s economic recovery from the coronavirus has helped fuel the advance.

Editor: Ben Armour 

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