Taking lead from Wall Street, local markets fall 
2019-08-07
China’s A-share markets extended losses yesterday, following Wall Street’s plunge as investors became more concerned after US President Donald Trump accused the Chinese government of currency manipulation.
Triggered by the overnight fall in the US, A-shares saw big losses during the morning session but later regained some ground. 
The benchmark Shanghai Composite Index slumped 1.56 percent, or 43.94 points, to finish at 2,777.56.
The smaller Shenzhen Component Index lost 1.39 percent to 8,859.47 points, while the ChiNext tumbled 1.53 percent to finish at 1,507.91 points.
The combined turnover of the two bourses came to 523.6 billion yuan (US$74.5 billion), up from 416.1 billion yuan a day earlier.
Most sectors declined, with iron and steel makers, chemical companies and light manufacturing among the top losers.
Notably, shares of Xining Special Steel Co Ltd, a company principally engaged in the smelting and rolling processing of special steel products, fell 5.43 percent to 3.31 yuan a share.
The ChiNext Index, China’s Nasdaq-style board, lost 1.53 percent to close at 1,507.91 points.
However, stocks in liquor and securities rose, with industry leader Wuliangye Yibin Co Ltd up by 3.70 percent.
The US markets had their worst day of the year, with the Dow Jones Industrial Average plunging more than 700 points, the S&P 500 slipping nearly 3 percent and the Nasdaq Composite falling 3.5 percent.
