Shares fall despite 5G rally 
2019-06-04
China’s A-share markets posted losses on the first trading day of June, led by cyclical shares, despite a strong rally by 5G-related companies in afternoon trading.
The benchmark Shanghai Composite Index edged down by 0.3 percent, or 8.62 points, to finish at 2,890.08.
The smaller Shenzhen Component Index fell by 0.74 percent to end at 8,856.99 points, while the ChiNext Index slumped by 0.99 percent to finish at 1,468.98 points.
The combined turnover of the two bourses came to 479.1 billion yuan (US$69.3 billion), expanding from the 437.4 billion yuan during the previous trading day.
Losses were seen across the board with electrical equipment makers, mining and chemical companies among the biggest losers. 
Shares of Zhongshan Broad-Ocean Motor Co Ltd, a Guangdong-based supplier of small and specialized electric machines, declined by 6.79 percent to stand at 4.12 yuan a share.
Boosted by the news from the Ministry of Industry and Information Technology that China will soon grant 5G licenses for commercial use, relevant stocks posted strong gains.
Hangzhou Freely Communication Co Ltd, Wutong Holding Group Co Ltd and Nanjing Huamai Technology Co Ltd all recorded the daily maximum rise of 10 percent.
