Financials Drag China's Stock Markets Down Into Lunchtime
Dou Shicong
DATE:  Jan 23 2020
/ SOURCE:  yicai

(Yicai Global) Jan. 23 -- China's mainland stock markets went even lower after a dismal opening this morning as the financial sectors weighed on the main benchmarks while medical equipment suppliers bucked the market trend. 

The Shanghai Composite Index closed 1.46 percent lower at 3,016.18 at the half break. The Shenzhen Component Index was at 10,866.38, down 1.86 percent, while the ChiNext Price Index, which tracks growth enterprises in Shenzhen, dropped 1.44 percent to 1,965.21.

The insurance sector fell 1.81 percent, as China Life Insurance [SHA:601628] dropped 2.39 percent to CNY32.71 (USD4.73). Securities brokers were also down 1.71 percent, led by Sealand Securities [SHE:000750], which plunged 3.27 percent to CNY4.74.

Zhende Medical [SHA:603301], and Allmed Medical Products [SHE:002950], both medical mask producers, hit the 10 percent price ceiling, going against the market trend as the novel coronavirus-caused pneumonia continues its inexorable spread.

Editor: Ben Armour

Follow Yicai Global on
Keywords:   Shanghai Composite Index,Shenzhen Component Index,ChiNext Price Index