Editorial Summary

The Shanghai Composite Index fell 1.65 percent to close at 3,485.63, while the Shenzhen Composite Index dropped 1.45 percent to close at 1,063.85 on Thursday. Trading volume on the Shanghai and Shenzhen Stock Exchanges reached RMB 93.895 billion and RMB 46.243 billion, respectively.

Nantong-based clothing company Kingfield Garment (002239.SZ) and Weifang-based electro-acoustic company GoerTek (002241.SH) issued their initial public offerings on the Shenzhen Stock Exchange on Thursday. Kingfield issued 34 million shares at a price of RMB 9.33. Kingfield shares closed 56.48 percent above initial pricing at RMB 14.6. GoerTek shares were up 65.39 percent on its first day of trading. The company issued 30 million shares at a price of RMB 18.78 per share.

Shares of the world's largest bulk shipper China COSCO Holdings Company Limited (601919.SH, 1919.HK) decreased 6.9 percent to close at RMB 28.18.