Off the wire
• Commentary: China, CEE cooperation opens new prospects for China-Europe ties  • Ist LD Writethru: 7 killed in pilgrims chopper crash in Indian-controlled Kashmir  • Taylor Swift, One Direction big winners at American Music Awards  • Chinese premier calls on Malaysian business leaders to contribute to ties  • Animal cloning center to be built in Tianjin  • ASEAN supports to settle disputes of South China Sea in line with int'l law, DOC : Cambodian senior official  • Conference opens in Beijing as China embraces robotics revolution  • Roundup: Mauricio Macri vows new era as Argentine president  • Sri Lankan navy denies reports of attacking Indian fishermen  • Urgent: Helicopter crash kills 7 in Indian-controlled Kashmir  
You are here: 　 Home

1st LD-Writethru: Chinese shares drop as IPOs resume

Xinhua, November 23, 2015 Adjust font size:

China's stocks closed lower on Monday after the country restarted initial public offerings (IPOs).

The benchmark Shanghai Composite Index was down 0.56 percent to close at 3,610.32 points. The smaller Shenzhen index lost 0.91 percent to close at 12,586.69 points.

The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, dropped 1.06 percent to close at 2,770.58 points.

Total turnover on the two bourses shrank to 1.07 trillion yuan (167.53 billion U.S. dollars) from 1.08 trillion yuan the previous trading day.

IPOs resumed in China after being suspended in July in the wake of a stock market rout that began in mid-June.

Ten companies on Monday announced subscription dates, which were expected to attract capital of around one trillion yuan.

Due to sharp market fluctuations, the Shanghai and Shenzhen stock exchanges announced that 28 scheduled IPOs would be suspended in early July.

Brokerages led the declines, with their sub-index down 1.18 percent and five shares losing more than 2 percent.

Banks saw gains of only two shares as Shanghai Pudong Development Bank surged 3.19 percent to 19.06 yuan per share and China Merchants Bank edged up 0.22 percent to 18.19 yuan per share.

Bucking the trend, the media and textile sectors had strong performance, with four media and seven textile shares hitting the daily increase limit of 10 percent. Endi