Stock markets in Shanghai and Shenzhen took a thrashing Thursday as fresh signs of economic uncertainty abroad spilled over onto the mainland bourses.
The Shanghai Composite Index gave up 28.82 points, or 1.27 percent, to close at 2,242.11; while the Shenzhen Component Index slumped 1.56 percent, or 142.35 points, to end at 9,001.09.
Both markets opened lower Thursday after disappointing payroll figures out of the US sent the Dow Jones Industrial Average and the S&P 500 plummeting during overnight trading. Environmental protection, water and gas supply, and medical instrument stocks took some of the biggest tumbles when the A-share markets opened Thursday. Losses accelerated during the afternoon session as real estate, papermaking and environmental protection stocks retreated broadly.
Listed solar equipment makers added to their losses again Thursday as anxieties about punitive tariffs from Europe continued to loom large with investors. Zhejiang Jinggong Science & Technology Co declined 6.27 percent to 8.52 yuan ($1.39). Shenzhen Topraysolar Co dived 5.93 percent to 6.03 yuan on the day.
Among the property developers which weakened Thursday, China Merchants Property Development Co went down 4.72 percent to 1.37 yuan. Poly Real Estate Group dived 3.13 percent to 11.77 yuan on the day.
The logistics sector was one of the markets' few bright spots in a mostly down day for A-shares. Jiangsu Aucksun Co tacked on 1.66 percent to 6.75 yuan. Jiangsu Xinning Modern Logistics Co climbed 1.48 percent to 17.15 yuan on the day.
As the Shanghai Composite ended Thursday with its sixth straight day below par, analysts said that a rebound would probably not be likely until sometime after the upcoming Dragon Boat Festival holiday.
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