China Market falls on profit booking

The Mainland China stock market declined on Thursday, 24 December 2015, due to resumption of profit booking amid speculation recent gains were overdone, and concern about fund diversion toward initial public offerings from existing equities. Total 9 out of 10 SSE industry groups declined, with shares of industrial, consumer staple, and healthcare issues being major losers. The Shanghai Composite Index decreased 0.65%, or 23.60 points, to close at 3612.49. The Shenzhen Composite Index, which tracks stocks on China's second exchange, declined 0.2%, or 4.69 points, to close at 2346.37. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 0.43%, or 11.84 points, to close at 2795.78.

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