China Market falls on profit booking

The Mainland China stock market ended softer after washing out initial gain late afternoon on Wednesday, 23 December 2015, due to profit booking after the benchmark indices surged to highest level in four-months yesterday. Total 8 out of 10 SSE industry groups declined, with shares of telecom, technology, and material issues led losses. The Shanghai Composite Index decreased 0.43%, or 15.68 points, to close at 3636.09. The Shenzhen Composite Index, which tracks stocks on China's second exchange, declined 1.2%, or 28.56 points, to close at 2351.06. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, dropped 2%, or 55.91 points, to close at 2783.94.

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