China Stocks Close at One-year Low after Trading Resumes

Chinese shares closed down on the first trading day this month after the Shanghai and Shenzhen stock markets resumed trading on Oct 10 after a seven-day National Day holiday.

Key indexes of both bourses opened higher Monday but closed at the lowest points in one year.

The benchmark Shanghai Composite Index closed at 2,344.79 points, down 14.43 points, or 0.61 percent.

The Shenzhen Component Index fell 121.59 points, or 1.18 percent, to close at 10,170.75.

Combined turnover shrank to 72.3 billion yuan (11.4 billion U.S. dollars) from 82.8 billion yuan the previous trading day.

Losers outnumbered gainers 567 to 301 in Shanghai and 791 to 486 in Shenzhen.

Bank shares and oil-related stocks led the declines. Bank of Nanjing fell 2.5 percent to close at 7.92 yuan per share, while Pudong Development Bank dropped 1.4 percent to 8.42 yuan.

Sinopec, the country's largest oil refiner, dipped 0.43 percent to close at 6.9 yuan per share. PetroChina, the country's largest oil and gas producer, lost 1.11 percent to finish at 9.76 yuan.

Bucking the trend, media and entertainment companies saw gains. China Television Media Ltd. rose 2.27 percent to 12.6 yuan. Beijing Gehua CATV Network Co., Ltd. rose 0.23 percent to 8.75 yuan.

Source: Xinhua