Shenzhen Stocks Slump on Ag, Pharma Drop
The Shanghai Composite Index fell 0.72% to close at 2,695.72, while the Shenzhen Composite Index weakened 2.39% to end at 1,150.04 on Monday, January 24. Trading volumes for the two indices were 8.79 billion and 3.83 billion, respectively.
Agricultural companies sold off sharply, with Yuan Longping High-Tech (000998.SZ) slumping 7.87%, Shandong Denghai Seeds (002041.SZ) falling 5.15% and Gansu Dunhuang Seed (600354.SH) losing 4.50%. Feedstuff producers Beijing Dabeinong Technology (002385.SZ), Sichuan New Hope Agribusiness (000876.SZ) and Jiangxi Zhengbang Technology (002157.SZ) fell 5.20%, 5.16% and 3.55%, respectively.
Medicines producers and retailers retreated, with Hainan Haiyao (000566.SZ) slumping 10%, Guangzhou Pharmaceutical (600332.SH) down 8.06%, GuiZhou Yibai Pharmaceutical (600594.SH) falling 6.39% and Mayinglong Pharmaceutical Group (600993.SH) down 5.74%.
Yunnan Tourism (002059.SH) soared 9.95%, China CYTS Tours (600138.SH) boosted 6.39%, Beijing Capital Tourism (600258.SH) grew 4.14% and Beijing Jingxi Tourism Development (000802.SZ) climbed 3.18%. Trading in stocks linked to tourism is becoming heavier in the run-up to the Chinese New Year holiday season, cnfol.com reported.
Machine tool manufacturers Qinghai Huading Industrial (600243.SZ), Shenji Group Kunming Machine Tool (600806.SH), Shenyang Machine Tool (000410.SZ) gained 9.97%, 6.18% and 3.39%, respectively. Other heavy machinery producers also grew, including crane makers Taiyuan Heavy Industry (600169.SH), which improved 7.63%, and China First Heavy Industries (601106.SH), which grew 3.37%.
Lumber and forestry companies climbed, with Yunnan Jinggu Forestry (600265.SH), Yunan Green-Land Biological Technology (002200.SZ) and Fujian Zhongfu Industries (000592.SZ) gaining 4.13%, 3.73% and 0.51%, respectively.
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