Turnover on markets up, stocks drop

Source: Xinhua | 2019-02-27

ChinESE stocks retreated yesterday, but turnover continued to expand above the 1 trillion yuan (US$149 billion) mark for the main bourses.

The benchmark Shanghai Composite Index dropped 0.67 percent to close at 2,941.52 points.

The smaller Shenzhen Component Index also edged down 0.5 percent to 9,089.04 points and the blue chip CSI300 index ended 1.2 percent lower at 3,684.69 points.

Total turnover on the Shanghai and Shenzhen bourses was nearly 1.1 trillion yuan, up from the 1.04 trillion yuan on Monday.

Short-term volatility may increase after the recent sharp rise, but there can be further increases as long as incremental funds keep flowing into the market, China International Capital Corporation said in a research note.

Financial shares which soared on Monday were among the biggest decliners yesterday.