China's Stock Markets Closed Mixed This Morning, Small Caps Feel the Heat
Tang Shihua
DATE:  Dec 05 2017
/ SOURCE:  Yicai
China's Stock Markets Closed Mixed This Morning, Small Caps Feel the Heat China's Stock Markets Closed Mixed This Morning, Small Caps Feel the Heat

(Yicai Global) Dec. 5 -- China's stock markets were mixed at the morning close today, with the Growth Enterprise Index, which mostly comprises small-cap companies, struggling the most. The benchmark Shanghai Composite Index managed to claw its way back to slightly above yesterday's closing point after a dreary early morning.

Most sectors headed south throughout the morning, with only the financial and defense industries countering the slump. Smart voice interaction and metal firms fell the furthest.

Jiangsu-based SJEC Corp. [SHA:601313] which yesterday dived 10 percent, the daily limit down on the Shanghai exchange, saw its shares open at limit down again this morning, but managed to recover all of the losses in the first half hour and closed up 1.74 percent.

Its share price had been rising to the daily limit up for 19 straight days after it announced that Chinese internet security giant Qihoo 360 Technology Co., which previously listed in New York, would float in China and use SJEC as a vessel for a backdoor listing. It rose by slightly less on Dec. 1 before flopping the next trading day, Dec. 4.

The Shanghai Composite Index was up 0.06 percent to 3,311.59 points at morning close, with turnover totaling CNY112.4 billion (USD17 billion), up from yesterday morning's CNY102.7 billion.

The Shenzhen Component Index rose to 10,957.50 points, down 0.52 percent. Some CNY122.2 billion worth of shares changed hands, down from CNY129.1 billion on Monday morning.

The Growth Enterprise Index was down 1.20 percent at 1,776.27 points. Turnover was CNY31.20 billion, also lower than the previous morning's CNY35.60 billion.

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Keywords:   Stock Markets,Shanghai Composite Index,Shenzhen Component Index,Growth Enterprise Index,A-Shares