China's ChiNext and STAR 50 fall more than 3% in October 13 morning trade
In short
China's ChiNext and STAR 50 indices fell more than 3% in morning trading on October 13, with semiconductor and computing-hardware shares among the weakest sectors. The decline followed an October 12 session in which ChiNext closed down 2.61% and Shenzhen's component index fell 2.03%.
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ChiNext and STAR 50 fell more than 3% in China's October 13 morning session, according to CLS and 36Kr. Semiconductor, computing-hardware and consumer-electronics shares were among the weakest areas, 36Kr reported, with more than 5,000 shares declining across Shanghai, Shenzhen and Beijing. The sell-off followed a lower open: Shanghai fell 0.96%, Shenzhen's component index 1.79% and ChiNext 2.18%. Shipping shares strengthened at the open. [ 31 , 32 , 37 , 38 ]
The previous session had also ended lower. On October 12, Shanghai closed down 0.43%, Shenzhen's component index 2.03% and ChiNext 2.61%. Jiemian reported 4,325 declining shares and 1,167 advancing shares, with turnover in Shanghai and Shenzhen of about 1.54 trillion yuan. Communications-equipment shares were among the biggest fallers, while banking and construction-machinery shares gained, 36Kr reported. [ 18 , 22 ]
Why it matters
The losses extended across thousands of shares, with 36Kr reporting more than 5,000 decliners in Shanghai, Shenzhen and Beijing during the October 13 morning session. Shipping shares were among the stronger areas at the open.
Key facts
- ChiNext and STAR 50 fell more than 3% in October 13 morning trade. [ 37 , 38 ]
- At the October 13 open, Shanghai fell 0.96%, Shenzhen's component index 1.79% and ChiNext 2.18%. [ 31 , 32 , 39 ]
- 36Kr reported more than 5,000 declining shares across Shanghai, Shenzhen and Beijing during morning trading. [ 38 ]
- Semiconductor and computing-hardware shares were among the weakest sectors during the morning decline. [ 38 ]
- On October 12, Shanghai closed down 0.43%, Shenzhen 2.03% and ChiNext 2.61%. [ 18 , 22 ]
Confirmed by several sources
Still unclear
- The October 13 closing levels are not provided. The supplied Chinese-market updates for that date cover the open and morning trading.
What local media are saying
Timeline, local time
- October 12: Jiemian reports closing declines of 0.43% in Shanghai, 2.03% in Shenzhen and 2.61% in ChiNext. [ 22 ]
- October 13: CLS reports a lower open for all three major indices. [ 31 ]
- October 13: CLS reports ChiNext and STAR 50 down more than 3%. [ 37 ]
- October 13: 36Kr reports more than 5,000 declining shares. [ 38 ]