Beijing: Chinese stocks experienced a notable downturn on Thursday, with the benchmark Shanghai Composite Index falling by 1.73 percent, closing at 3,379.84 points. Simultaneously, the Shenzhen Component Index saw a more pronounced decrease, ending the day 2.83 percent lower at 11,037.78 points.
According to Namibia Press Agency, the combined turnover for these two major indices was recorded at 1.85 trillion yuan, approximately 257.07 billion U.S. dollars. This figure marks a decrease from the 2.01 trillion yuan turnover observed during the previous trading session. The sectors that faced the most significant setbacks included electronic devices, medical equipment, and aircraft manufacturing, all of which reported major losses.
Additionally, the ChiNext Index, which tracks China’s Nasdaq-style board of growth enterprises, suffered a substantial drop of 3.4 percent, closing at 2,334.96 points on Thursday.
