(Yicai Global) Jan. 22 -- Stock markets on the Chinese mainland furthered their morning this losses this afternoon as the three main indexes closed more than 1 percent down and investors held back.

The Shanghai Composite Index closed down 1.18 percent at 2,579.7, with CNY123 billion (USD18 billion) of shares changing hands, CNY17 billion less than yesterday. The Shenzhen Component Index closed at 7,516.79, down 1.44 percent, with a trading volume of CNY155.6 billion. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, finished the day 1.77 percent lower at 1,252.24, with investors trading CNY47.33 billion of shares.

Foshan Golden Milky Way Intelligent Equipment [SHE:300619], the first mainland-listed company to publish its 2018 annual report, crashed 9.66 percent to CNY23.95 (USD3.52) after profit decline 2.3 percent.

Ferrous metals, liquor and beverages led sector losses after falling by over 2 percent each, though all industries slumped across the board. Securities, insurance and petroleum all lost at least 1 percent.

Editor: James Boynton